Google has announced new advertising policies for cryptocurrency-related products in the United Kingdom, requiring advertisers to register with the country’s Financial Conduct Authority (FCA) starting January 15, 2025.
The update aims to ensure compliance with local regulations amid increased scrutiny of crypto promotions globally.
The search engine giant stated that advertisers promoting digital asset exchanges and software wallets in the UK will need to meet specific requirements to advertise on Google platforms.
Ads for hardware wallets designed to store private keys for cryptocurrencies, non-fungible tokens (NFTs), and other digital assets will also be permitted, provided they do not offer additional services such as buying, selling, or trading.
Google emphasized the importance of adhering to local laws, writing, “We expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these financial products.”
Advertisers targeting multiple jurisdictions will need to align their campaigns with the financial regulations of each region.
The policy changes reflect a growing effort by regulators to curb unauthorized and misleading crypto promotions.
On December 16, the FCA issued a warning against a Solana-based memecoin and NFT project called “Retardio,” citing concerns about unauthorized advertising targeting UK customers.
The FCA cautioned that unregistered firms pose significant risks to consumers, including the potential loss of funds if the company ceases operations.
The UK is not alone in tightening crypto advertising rules. Nigeria’s Securities and Exchange Commission (SEC) recently mandated that virtual asset service providers and social influencers obtain permission before publishing crypto ads.
These measures highlight a global push to regulate the burgeoning digital asset market and protect consumers from fraudulent schemes.
Google’s policy update aligns with these regulatory trends, signaling the tech company’s commitment to ensuring transparency and compliance in crypto-related advertising.
Advertisers must act swiftly to meet the FCA’s registration requirements or risk losing access to Google’s platforms.