The ecosystem of cryptocurrency has undergone a massive expansion in the last couple of years. However, cryptocurrency advertising on various social media platforms is still a challenge because of the many regulations and bans on its promotion in several countries.
At present, the regulation entities in many countries have not established proper rules and regulations regarding crypto advertising. This is because the benefits of cryptocurrencies are still being debated. Meanwhile, some countries like Russia, Columbia, and China have banned Bitcoin and other cryptocurrencies completely, which has made crypto-related advertising more challenging. Crypto advertising is not allowed in Japan either, which is relativity friendly when it comes to Crypto investments and trading.
However, there is news that restrictions regarding crypto advertising are loosening at various levels. Recently Google updated its financial products and services policy, as a result of which it will start running crypto ads again after the ban in June 2018. With this new updated policy, many regulated cryptocurrency platforms and entities will have the opportunity to promote their services once again. However, they will have to meet the specific requirements which have been listed in the policy. These requirements have been put in place to eliminate any kind of crypto scams and dubious advertisements. According to the policy, any advertiser wishing to promote their services would have to register with the Financial Crimes Enforcement Network as an MSB. Google’s parent company, Alphabet, is sure to benefit from this move at the boost to crypto advertising will contribute to additional sales.