Google Updates Advertising Policy for Cryptocurrencies and Related Products
Google has recently made changes to its advertising policy in relation to cryptocurrencies and related products. Starting from January 29, 2024, Google will permit the advertising of investment products associated with digital assets, including exchange-traded funds (ETFs). This update is aimed at clarifying the scope and requirements for advertising cryptocurrency coin trusts.
Advertising for Blockchain-Based Games with NFTs Allowed
In September, Google also made a significant change by allowing the advertising of blockchain-based games that utilize non-fungible tokens (NFTs). Specifically, Google permits games that enable players to purchase in-game items like virtual clothing or weapons. However, advertisements for games that involve betting with NFTs in exchange for the chance to win something of real value, such as other tokens, remain prohibited.
Increased Interest in Bitcoin ETFs
In late October, Google Trends recorded a surge in searches for the term “spot bitcoin ETF” on its international search platform. This indicates a heightened level of interest in this topic among regular users. Numerous institutional players have already submitted applications for Bitcoin ETFs, with the launch of these investment products anticipated to trigger a new bull market cycle. Bloomberg Intelligence analysts have estimated a 90% likelihood of SEC approval for the ETF by early January 2024.
Hot Take: Google’s Updated Advertising Policy Embraces Cryptocurrency Investments
Google’s recent update to its advertising policy demonstrates a growing acceptance and recognition of cryptocurrencies and related products. By allowing the advertising of digital asset-related investment products and blockchain-based games with NFTs, Google is acknowledging the increasing demand and interest in these areas. The move also aligns with the crypto community’s anticipation of Bitcoin ETFs being approved, which could potentially fuel the next bull market cycle. Overall, Google’s updated policy reflects the evolving landscape of the crypto industry and highlights the growing mainstream acceptance of cryptocurrencies.
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