Google Updates Crypto Policy to Address NFTs

Google Updates Crypto Policy to Address NFTs

Google Cracks Down on Gambling Ads

Starting from September 15, Google has implemented new regulations prohibiting advertisers from promoting gambling-related content. This move intends to create a safer advertising environment.

Updated Policies for Digital currencies and NFT Games

In September 2023, Google will update its policies regarding digital currencies and related products. In particular, it will provide clearer guidelines for advertising blockchain-based games involving non-fungible tokens (NFTs). This change intends to secure transparency and compliance in the advertising of NFT games.

Promotion of Certified Blockchain Games

Google allows the promotion of blockchain games that involve NFTs, as long as they are certified. These games enable players to purchase in-game items such as virtual apparel, weaponry, and armor, aiding them in progressing within the game.

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Restrictions on NFT Games

Nonetheless, Google prohibits the promotion of NFT games where players can gamble or stake NFTs to gain  real-world value items. Social casino games that reward NFTs are likewise not allowed. These measures are in place to protect users.

Consequences for Policy Violations

Violations of these policies won’t be instantly lead to account suspension. Ads that violate the policies will receive a 7-day warning before suspension. This allows advertisers to rectify any non-compliant content.

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Beware of Cryptocurrency Scams

In recent reports, a new form of cryptocurrency scam has been discovered. Scammers are purchasing ads for legitimate cryptocurrency websites, but using URL injection to redirect users to malicious duplicates. Stay vigilant to avoid sliding victim to such scams.

Hot Take

Google’s crackdown on gambling ads and clearer guidelines for NFT games reflect the increasing need for responsible advertising practices in the cryptocurrency industry. These actions intend to protect users from probable scams and secure a safer environment for cryptocurrency enthusiasts.

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Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension.

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