Google requires FCA registration for cryptocurrency advertisements in the UK, effective from January 15, 2025, in order to enhance oversight and protect investors.
Google has just announced a new advertising policy, under which cryptocurrency advertisers in the UK market are required to be approved by the Financial Conduct Authority (FCA) before they can operate. This regulation will take effect from January 15, 2025, and applies to all advertisements related to exchanges and digital asset wallets targeting users in the United Kingdom.
According to the new policy, advertisements related to exchanges and digital asset wallets in the UK are only allowed if these products are registered and licensed by the FCA. Additionally, Google also allows advertisements for hardware wallets that store private keys, NFTs, and other types of digital assets, provided these products do not offer buying or trading cryptocurrency services.
Source: Google
Although there is no requirement for FCA registration for hardware wallets, Google emphasizes that advertisers must strictly comply with local laws, adding pressure on businesses to ensure compliance with regulations in each specific market.
Google's decision reflects the trend of tightening regulation of cryptocurrency advertising globally, especially after a series of fraud and scam incidents. Most recently, the FCA had to warn about the memecoin project 'Retardio' on the Solana platform, while the SEC Nigeria requires digital asset service providers and influencers to obtain permission before promoting cryptocurrency.
Google's new policy is expected to play an important role in protecting investors from potential risks associated with unregulated cryptocurrency advertisements, while also promoting the transparent and safe development of the market.