Google Ads updates rules for cryptocurrency ads in the UK

Google has announced an update to the Google Ads policy on advertising for digital asset exchanges and wallets targeting the UK market. The new policy will go into effect on January 15, 2025.

Under the new rules, advertisers wishing to advertise cryptocurrency exchanges and software wallets are required to register with the Financial Conduct Authority (FCA) before running ads on the platform.

Google will also allow ads for hardware wallets that store cryptocurrency private keys, non-fungible tokens (NFTs), and other digital assets. However, there is a clarification: wallet providers must not offer ancillary services such as buying, selling, or trading digital assets.

Also, advertisers must adhere to local legislation in the regions they are targeting.

“As a reminder, we expect all advertisers to comply with the local laws for any area that their ads are targeted. This policy will apply globally to all accounts advertising these financial products,” Google said in a statement.

It is worth noting that Google adjusted its policy on cryptocurrency advertising several times. In 2018, all such ads were banned due to an increased number of fraud cases. In 2021, the corporation relaxed the rules and allowed ads for regulated cryptocurrency exchanges and crypto providers under certain conditions.

The new policy is aimed at emphasizing the growing focus on cryptocurrency-related advertising and the regulators’ fight against fraudulent ads.