Google announced last month that it will officially allow advertisements for “cryptocurrency trusts” in the United States starting from January 29th this year. Today, including BlackRock, Fidelity VanEck, Franklin Templeton, and Grayscale have successfully placed their respective Bitcoin spot ETF product advertisements on Google, which has excited the community.
(Foreword:
Google Ads updates “Cryptocurrency Advertising Policy”! Advertising in Taiwan requires authorization from the Financial Supervisory Commission and the Securities and Futures Bureau.
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(Background:
Is Google paving the way for Bitcoin ETFs? Ads Unbanned: Allowing “Cryptocurrency Trust Ads” to be updated by the end of January next year.
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Table of Contents:
Google launches multiple Bitcoin spot ETF ads
Advertising in Taiwan requires authorization from the Financial Supervisory Commission and the Securities and Futures Bureau
From a complete ban to allowing Bitcoin ETF ads, Google’s journey
Web2 tech giant Google announced last December that it will update its advertising policy for cryptocurrency-related products in January 2024 and officially open advertisements for “cryptocurrency trusts” in the United States from January 29, 2024.
Google defines cryptocurrency trusts as “financial products that allow investors to trade trust shares 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 (30), 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 found on Google.
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Image source: @BTC_Archive, @DailyBTCNews_, @LunarCrush
However, according to tests conducted in Taiwan, when the same keywords are entered, no related advertisements for Bitcoin ETF products appear.
In fact, according to previous reports by the media outlet, Google stated in its cryptocurrency advertising policy update that the updated policy applies to all Google accounts worldwide. However, advertisers need to obtain Google Ads certification and hold permits issued by local institutions to promote such products in different jurisdictions in accordance with local laws.
Taking Taiwan as an example, currently, Google’s advertising policy in Taiwan allows advertisers to promote complex speculative financial products related to cryptocurrencies in Taiwan, but the premise is that advertisers must first obtain formal 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 a limit on the use of leverage and the provision of risk warnings to potential investors.
Further reading:
Google Ads updates “Cryptocurrency Advertising Policy”! Advertising in Taiwan requires authorization from the Financial Supervisory Commission and the Securities and Futures Bureau.
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Google Ads Taiwan policy update | Source: Google
Although Bitcoin ETF ads cannot be seen in Taiwan and some other countries and regions, Google’s attitude towards cryptocurrencies has changed from a complete ban on cryptocurrency-related ads in 2018 to gradually relaxing the advertising placement for cryptocurrency trading platforms, wallet services, and NFT games over the years. Today, it has even opened up advertising for Bitcoin ETF products. This shows that the tech giant’s attitude towards the cryptocurrency industry is becoming more accommodating.
The cryptocurrency community also 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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