In a discreet adjustment, Google has quietly changed its crypto advertisement guidelines ahead of the potential launch of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States.
Starting January 29, 2024, the updated policy from the prominent search engine will authorize advertisers promoting “cryptocurrency coin trusts” targeting the United States, provided they fulfill specific criteria and obtain certification from Google, according to an update from December 6.
This shift significantly departs from Google’s traditionally cautious approach to cryptocurrency-related advertisements. Previously, the company had imposed strict restrictions on various crypto ads, citing concerns about potential fraud and deceptive promotions.
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However, with the evolving and increasingly accepted landscape of Bitcoin and other digital assets, Google seems to be adjusting its approach. Interestingly, back in November, Eric Balchunas, senior ETF analyst for Bloomberg, suggested that Bloomberg is maintaining their stance on the 90% probability of approval by January 10.
What does this update mean?
The revised guidelines specifically focus on financial products facilitating the trading of shares in trusts that hold significant quantities of digital currency. This indicates an acknowledgment of these investment options’ increasing popularity and legitimacy within the financial ecosystem.
This action reflects a more nuanced enforcement strategy for Google. Instead of promptly suspending accounts for policy violations, Google will issue warnings at least seven days before considering any potential account suspension.
Currently, more than 10 companies aim to introduce the initial Bitcoin spot ETF, with contenders such as BlackRock, Fidelity, and Ark Invest. The anticipated approval of these funds is poised to attract billions of dollars in new industry investments.
As the cryptocurrency industry matures and garners institutional interest, Google’s understated policy adjustment mirrors a broader recognition of the changing financial landscape, paving the way for heightened mainstream adoption of Bitcoin.
