Advertisements for wallets, exchanges, cryptocurrencies, and associated services are frequently subject to regulations as financial promotions. To guarantee compliance with these regulations, platforms such as Google Crypto Ads have implemented specific measures.
“Cryptocurrency coin trusts” are a new class of restricted financial products that are categorized in the most recent version of Google’s crypto advertising policy.
Certified advertisers will be allowed to promote Bitcoin Exchange Traded funds (ETFs) starting on January 29, 2024, when the new regulations go into effect. This will help spread awareness of cryptocurrencies online.
Upcoming Bitcoin ETF Google Crypto Ads
It is nearly impossible to avoid Google Crypto Ads in the world of online marketing; according to one survey, 99% of websites use them. Using Google to advertise ETFs could help spread the word about them to a large number of prospective investors, considering the platform’s wide audience.
Google’s new policy will benefit ETF issuers like Fidelity and BlackRock, but brokers and financial advisors will also be able to run crypto ads for cryptocurrency exchange-traded funds (ETFs) and associated services.
Promoting ETFs Outside of Cryptocurrency Investors
The promotion of Bitcoin ETFs by advertisers has the potential to broaden the audience for BTC beyond the current pool of cryptocurrency investors.
“This is how you market to rich boomers,” analyst Erich Balchanus said in response to one of Blackrock’s initial Bitcoin ETF advertisements. A departure from many crypto ads in the past, the video is understated and grown up. Even though it might not appeal to crypto bros or diehard Bitcoiners, they are not its target audience.
An investment advisor or other intermediary will frequently buy shares on behalf of a client who is wealthier and more experienced; investing in regulated securities markets is by nature a slower and more deliberate process.
Naturally, the websites they visit and the styles that appeal to them will differ. However, Balchanus’ description of the investor base for BlackRock’s ETFs also includes Google crypto Ads.
Rules for Financial Promotion and Crypto Google Ads
Financial services advertisements are subject to specific regulations in the US and other countries that aim to prevent misrepresenting the products or services being offered. Advisors are not allowed to, for instance, cherry-pick data to favorably portray investments.
The idea of risk disclosure is particularly crucial when it comes to cryptocurrency advertising. An increasing number of advertisements now include a disclaimer about the risks associated with cryptocurrency, as regulators worldwide are bringing it under the purview of financial promotion regulations.
So, Google stated in a recent revision to its policy regarding cryptocurrency promotions that advertisers must abide by local laws in any area that their ads target. The company made it clear that ads that are found to violate local laws may result in account suspension.
Global Crypto Owners Trading Data
Global crypto owners increased by 34% in 2023. According to research by crypto.com, crypto owners grew from 432 million in January 2023 to 580 million in December 2023.
BTC holders make up 51% of all crypto holders. The total number of Bitcoin holders increased by 33%, from 222 million in January 2023 to 296 million in December 2023.
Uber CEO Announces Plans to Accept Crypto
Uber CEO Dara Khosrowshahi stated on a TV program in which he participated that they will be able to accept Bitcoin and cryptocurrency payments in the future.
Khosrowshahi responded to the server’s question about whether Uber will accept Bitcoin payments in the future and whether they are discussing it.
He responded to the presenter’s question, “It definitely could happen one day; we are always in talks and said further, Uber will support cryptocurrency when the time comes.”
CEO Uber Khosrowshahi continued his speech, saying:
“At the moment, we can see that Bitcoin and other cryptocurrencies are very valuable as a means of storing value. However, bartering operations are both costly and environmentally harmful.
If the clearing mechanism is less expensive and more environmentally friendly, we will see an increase in the use of cryptocurrency. So we are keeping an eye on cryptocurrencies, and Uber will undoubtedly support them in the future.”
Guidelines for Crypto Google Ads
Even though Google is a very user-friendly platform, some fields, like blockchain technology and cryptocurrency projects, call for a different strategy. This requires being aware of several Google policies and guidelines.
Allowed crypto Google advertising
In addition to ensuring user safety and regulatory compliance, Google’s cryptocurrency advertising policy was created to support the market’s expansion and legitimacy. Google currently permits advertising for specific categories of cryptocurrency-related goods and services.
Now Google may promote cryptocurrency exchanges and wallets that are legally compliant, properly registered, and within the specified geographic boundaries. This includes well-known wallets and exchanges that have demonstrated their dependability.
These organizations must possess all the legal licenses, certifications, or registrations needed in each of the nations where their advertisements are intended.
Transparency and Quality Standards For Google Ads
Google has strict quality and transparency requirements for cryptocurrency-related advertisements.
Verification and Compliance: Advertisers must undergo rigorous verification and demonstrate compliance with applicable legal regulations, including those governing financial services and cryptocurrency trading.
Clear and honest representation: Advertisements should accurately reflect the services provided, with no misleading claims or exaggerated promises of investment returns.
Transparency: Advertisers must maintain a high level of transparency in their operations, including disclosing the nature of their services, any associated risks, and the terms and conditions of the provision.
Prohibited Activities and Content
Specific guidelines of Google who controlling the promotion of cryptocurrencies and associated services:
Unregulated crypto products: Advertising cryptocurrencies and related products that are not regulated by the appropriate financial authorities is strictly prohibited. This includes cryptocurrencies that a recognized financial institution does not regulate.
Deceptive Practices: Any misleading or deceptive advertising related to cryptocurrencies is prohibited. This includes exaggerating potential investment returns and making unrealistic claims about cryptocurrency’s performance.
Investing in high-risk cryptocurrencies and financial products: Google does not allow the promotion of these products. There are a variety of complex financial products related to cryptocurrencies, including initial coin offerings (ICOs), binary options, and complex speculative financial products.
Conclusion
The future of the entire world is hidden in cryptocurrency, and all of the world’s major corporations are now rapidly accepting cryptocurrency and declaring it to be the future. On this important occasion, Settler Circle intends to support cryptocurrency by understanding its value and applauding Google’s cryptocurrency-friendly advertising policy.
Author
This article is written and researched by Mujeeb UR Rehman, a Certified Marketing and Communications Professional from IBMI Berlin, Germany.
