Google Implements Significant Policy Change Regarding Crypto-Advertisements in the UK

Google has announced a significant policy change, required for all crypto-advertisers targeting the United Kingdom. Starting from January 15, 2025, these companies must register with the Financial Con...
Google UK crypto

Google has announced a significant policy change announced, required for all crypto advertisers targeting the United Kingdom. As of January 15, 2025, these companies must register with the Financial Conduct Authority (FCA) to strengthen consumer protection and compliance with UK financial regulations. This update particularly affects advertisements for cryptocurrency exchanges and wallet providers, with specific guidelines for hardware wallets.

FCA Registration Required for UK Crypto Companies

Under the new policy, any crypto-related business that wants to place ads on Google’s platform must first register with the FCA. This applies to:

  • Crypto Exchanges: Where users can buy, sell, and trade digital assets.
  • Software Wallets: Software for storing and managing cryptocurrencies.
  • Hardware Wallets: Physical devices for storing private keys, provided they do not offer additional services such as trading or selling assets.

In addition to registration, advertisers must comply with the local laws of the regions they target.

Google’s Aim for Safer Crypto Ads

Google’s decision reflects a global trend of stricter regulation. The FCA has recently warned about unauthorized crypto promotions, particularly a memecoin project called “Retardio” on Solana, targeting UK consumers, to protect them from financial losses due to unregulated ads.

Crypto Ad Fraud Remains a Problem

Despite these measures, crypto fraud and scams remain a challenge:

  • Fake Crypto Websites: A phishing ad pretending to be Sony’s blockchain project, Soneium, led users to a fake website that stole crypto assets.
  • Fraudulent Wallet Apps: An app called WalletConnect stole $70,000 from users by pretending to be a legitimate protocol, specifically targeting mobile users.

These incidents underscore the need for strict ad policy and user vigilance.

Preparing for the Future

Google’s new policy is a step towards better oversight of crypto ads and fits into the global effort to improve transparency and consumer protection in the crypto world. With 2025 in sight, advertisers must prepare well for these changes, especially in January, to continue to meet the new standards.

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