Google has taken a significant step in the realm of cryptocurrency advertising by updating its policy to allow US-based crypto trusts to advertise on its platform starting January 29, 2024. This move comes at a time of heightened anticipation in the crypto space, particularly with the potential approval of spot Bitcoin exchange-traded funds (ETFs) in the United States.
The update specifically mentions “advertisers offering Cryptocurrency Coin Trust targeting the United States.” However, advertisers looking to promote crypto trusts must undergo Google certification to ensure they have the necessary licenses from relevant local authorities. This policy adjustment aligns with the broader industry trend and the significant surge in Bitcoin’s value, which has increased by 74% in the past 90 days.
The update by Google is also in line with expectations of the approval of spot Bitcoin ETFs in the United States. Industry analysts predict a 90% likelihood of approval by January 10, 2024. Currently, there are 13 Bitcoin ETF applicants, including major players such as BlackRock, Grayscale, and Fidelity, who have engaged with the US Securities and Exchange Commission to discuss crucial technical details related to their ETF proposals.
The certification process for potential crypto trust advertisers on Google emphasizes compliance with local laws. Advertisers must obtain the necessary licenses from local authorities, and their products, landing pages, and ads must align with the legal requirements of the respective countries or regions. This meticulous certification process aims to ensure responsible advertising practices within the rapidly evolving and dynamic cryptocurrency landscape.
It is anticipated that the approval of Bitcoin ETF applications by the US Securities and Exchange Commission could lead to a significant positive impact on the crypto market, potentially adding $1 trillion to the market. This further underscores the importance of Google’s policy update in allowing certified US-based crypto trusts to advertise on its platform.
Overall, Google’s easing of its crypto trust ads policy is a strategic move that reflects the evolving landscape of cryptocurrency and the potential for significant developments in the industry. As the anticipation for the approval of spot Bitcoin ETFs in the US continues to grow, Google’s policy adjustment aligns with the shifting dynamics of the cryptocurrency market and aims to ensure responsible advertising practices within this space.