Google Tweaks Cryptocurrency Ad Ban to Allow Regulated Exchanges
Google earlier banned ads promoting cryptocurrencies and initial coin offerings,
(Bloomberg) -- Alphabet Inc.’s Google changed its blanket ban on cryptocurrency-related advertising, saying it will now allow “regulated” cryptocurrency exchanges in Japan and the U.S. to run ads on its websites.
"Advertisers will need to be certified with Google for the specific country in which their ads will serve," Google wrote in Tuesday in a blog post, adding that advertisers can apply for certification starting in October.
The U.S. Securities and Exchange Commission requires cryptocurrency brokers and exchanges to take measures against money laundering and to ensure they know the identities of the people who are buying and selling. Exchanges like Coinbase and Gemini require their customers to prove their identity.
The internet search giant in March said it would ban ads promoting cryptocurrencies and initial coin offerings, a restriction that took effect in June.
To contact the reporter on this story: Gerrit De Vynck in New York at gdevynck@bloomberg.net
To contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack
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