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FameEX Hot Topics | Google Revises Policy to Permit Ads for U.S. Crypto Trusts

2023-12-11 16:49:20

Google has made changes to its cryptocurrency-related advertising policy, allowing advertisements for U.S.-based cryptocurrency trusts starting in late January 2024. This adjustment coincides with predictions of the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States during the same month. In a policy change log dated December 6, Google stated that its crypto and related products ad policy will be revised on January 29, 2024, to permit ads from "advertisers offering Cryptocurrency Coin Trust targeting the United States." Cryptocurrency coin trusts were cited as examples of "financial products that allow investors to trade shares in trusts holding large pools of digital currency," likely encompassing ETFs.

Google emphasized its expectation that all advertisers adhere to local laws relevant to their targeted regions. This policy modification will have worldwide applicability to all accounts advertising these products.Advertisers interested in promoting crypto trusts will need Google certification. This certification entails advertisers possessing the necessary license from the pertinent local authority and ensuring that their products, landing pages, and ads comply with the local legal requirements of their chosen country or region.

While Google permits advertising for some cryptocurrency and related products, it excludes ads for crypto or nonfungible token (NFT)-based gambling platforms, initial coin offerings, decentralized finance protocols, and services offering trading signals.This policy change coincides with predictions by Bloomberg's ETF analysts, who have estimated a 90% probability of U.S. spot Bitcoin ETF approval by January 10, 2024, potentially resulting in the simultaneous approval of multiple pending applications.

Currently, there are 13 applicants for Bitcoin ETFs, with limited public information available about the approval processes. Several fund managers, including BlackRock, Grayscale, and Fidelity, have reportedly engaged in discussions with the U.S. Securities and Exchange Commission to address essential technical details regarding their ETF proposals.

The cryptocurrency industry anticipates these approvals, given the recent surge in Bitcoin's value, which has increased by nearly 74% in the past 90 days. Some analysts predict a new all-time high for Bitcoin in 2024.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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