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FameEX Hot Topics | Google Eases Policy to Allow Ads for U.S. Crypto Trusts
2023-12-11 16:48:00
Google has made significant changes to its cryptocurrency-related advertising policy, announcing that it will allow advertisements for U.S.-based cryptocurrency trusts starting in late January 2024. This policy adjustment coincides with widespread 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 revealed that its crypto and related products advertising policy is set to undergo revisions on January 29, 2024. The primary change will be the permission of ads from "advertisers offering Cryptocurrency Coin Trust targeting the United States." This category includes cryptocurrency trusts that enable investors to trade shares in trusts holding substantial pools of digital currency, potentially encompassing ETFs as well.
Google made it clear that it expects all advertisers to fully comply with local laws applicable to their targeted regions. This updated policy will have global implications, applying to all Google advertising accounts seeking to promote these cryptocurrency-related products. For advertisers interested in promoting cryptocurrency trusts, obtaining Google certification will be a prerequisite. This certification process entails advertisers having the appropriate license from the relevant local authority. Furthermore, their products, landing pages, and advertisements must meet all the local legal requirements of the specific country or region they intend to get certified for. While Google is now allowing advertisements for certain cryptocurrency and related products, it continues to prohibit ads related to crypto or nonfungible token (NFT)-based gambling platforms, initial coin offerings (ICOs), decentralized finance (DeFi) protocols, and services offering cryptocurrency trading signals. This significant policy change from Google coincides with predictions made by Bloomberg's ETF analysts, who have estimated a 90% likelihood of the approval of a U.S. spot Bitcoin ETF by January 10, 2024. There is also speculation that multiple pending Bitcoin ETF applications could receive approval simultaneously. Presently, there are 13 applicants vying for approval for their Bitcoin ETFs. Unfortunately, public information about the approval processes remains limited. However, there have been reports that various fund managers, including prominent names like BlackRock, Grayscale, and Fidelity, have recently engaged in discussions with the U.S. Securities and Exchange Commission (SEC). These discussions aim to address key technical details related to their ETF proposals, potentially bringing them closer to regulatory approval. In anticipation of these ETF approvals, the cryptocurrency industry remains optimistic. Bitcoin, the leading cryptocurrency, has experienced a remarkable surge in value, appreciating by nearly 74% over the past 90 days. Consequently, some analysts are projecting the possibility of Bitcoin reaching a new all-time high 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.
