Google announced last month that it would officially allow advertisements for “cryptocurrency trusts” in the United States starting from January 29th. Today, companies including BlackRock, Fidelity VanEck, Franklin Templeton, and Grayscale have successfully placed advertisements for their respective Bitcoin spot ETF products on Google, which has excited the community.
(Previous Summary:
Google Ads Updates “Cryptocurrency Advertising Policy”! Taiwan requires authorization from the Financial Supervisory Commission and the Securities and Futures Bureau before advertising.)
(Background Supplement:
Is Google paving the way for Bitcoin ETFs? Ads ban lifted: “Cryptocurrency Trust Advertising” allowed to be updated at the end of January next year.)
Table of Contents:
Multiple Bitcoin Spot ETF Advertisements on Google
Taiwan Requires Authorization from the Financial Supervisory Commission and the Securities and Futures Bureau for Advertising
From a complete ban to allowing Bitcoin ETF advertisements
Web 2 technology giant Google announced last December that it would update its advertising policy for cryptocurrency-related products in January 2024, and will officially allow advertisers to promote “cryptocurrency trusts” in the United States starting from January 29, 2024.
Google defines cryptocurrency trusts as “financial products that allow investors to trade shares of trust stocks that hold a large amount of digital currency.” Therefore, it is speculated that advertisers will be able to promote “Bitcoin spot ETFs” that meet this definition on the Google platform.
Today (January 30th), screenshots provided by multiple community sources show that when searching for “bitcoin etf” in the search bar, advertisements for Bitcoin spot ETF products from BlackRock, Fidelity VanEck, Franklin Templeton, and Grayscale have already been successfully displayed on Google.
Image Source: @BTC_Archive, @DailyBTCNews_, @LunarCrush
However, when tested using IP addresses in Taiwan, no advertisements for Bitcoin ETF products were found when searching for the same keywords.
In fact, according to previous reports from the testing area, Google’s updated advertising policy for cryptocurrency indicated that the updated policy applies to all Google accounts worldwide, but advertisers need to obtain Google Ads certification and hold licenses issued by local institutions to promote such products in different jurisdictions in accordance with local laws.
Taking Taiwan as an example, the current advertising policy of Google in Taiwan allows advertisers to promote complex speculative financial products related to cryptocurrencies in Taiwan, but the premise is that advertisers must first obtain official authorization from the Financial Supervisory Commission and the Securities and Futures Bureau in Taiwan. In addition, advertisers must comply with other relevant local legal requirements in Taiwan. This includes limitations on the use of leverage and the obligation to provide risk warnings to potential investors.
Further reading:
Google Ads Updates “Cryptocurrency Advertising Policy”! Taiwan requires authorization from the Financial Supervisory Commission and the Securities and Futures Bureau before advertising.
Google Ads Taiwan Updated Policy | Source: Google
Although Bitcoin ETF advertisements are still not visible in Taiwan and some other countries and regions, Google’s attitude towards cryptocurrencies has evolved from a complete ban on cryptocurrency-related advertisements in 2018 to gradually relaxing the advertising placement for cryptocurrency trading platforms, wallet services, and NFT games in the following years. Today, it even allows advertisements for Bitcoin ETF products. This shows that the tech giant’s attitude towards the cryptocurrency industry is becoming more accepting.
The cryptocurrency community sees Google’s change in attitude as a major milestone in mainstream adoption, as it not only demonstrates clearer regulation of the cryptocurrency industry but also indicates that the general public is gradually accepting cryptocurrencies as a legitimate asset class.
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