Google will require advertisers promoting cryptocurrency exchanges and software wallets in the UK to be registered with the Financial Conduct Authority (FCA) and obtain Google's certification. Advertising for hardware wallets will also be allowed under specific conditions, focusing on compliance with local legal requirements and industry standards. Google's policy update emphasizes the importance of user protection and informed decision-making.
Google plans to revise its advertising policies for financial products and services, allowing advertisements for cryptocurrency exchanges and wallets targeting UK audiences starting from January 15, 2025, but advertisers will need to be registered with the FCA and obtain Google's certification to promote their services.
According to the updated regulations, advertisers must adhere to different standards for advertising software and hardware wallets. For cryptocurrency exchanges and software wallets, advertisers must hold FCA registration and authorization, as well as Google's certification, to launch advertising campaigns. This regulation is tailored specifically for the UK market to ensure compliance with local laws and industry standards.
As for hardware wallets, Google will allow advertisements for devices aimed at protecting cryptocurrency, non-fungible tokens (NFTs), or other cryptocurrency asset private keys, provided that these devices do not offer additional services such as buying, selling, exchanging, or trading assets. Advertisers must also comply with local legal obligations and obtain Google's certification.
At the time of the new update, UK regulators are working to crack down on cryptocurrency-related advertisements within their jurisdiction. On December 16, the FCA issued a warning about the Solana-based memecoin and NFT project "Retardio." The regulator expressed concerns about unauthorized promotional activities targeting UK customers. They stated that if the company has not registered, consumers participating in the scheme may not be able to recover their funds if the company collapses.
Meanwhile, the Nigerian Securities and Exchange Commission (SEC) has also tightened regulations on the marketing and promotion of cryptocurrency products. The US Securities and Exchange Commission has also stated that virtual asset service providers and KOLs must obtain the agency's permission before publishing any cryptocurrency advertisements.
"Google's policy update for January 2025: Advertisers promoting cryptocurrency exchanges to UK audiences must be registered with the FCA" was first published on (Blockbeat).