Google's new policy on financial products and services takes effect, and it is once again advertising cryptocurrencies

Google is once again running crypto ads after its updated financial products and services policy took full effect on August 3.

Under Google’s new policy, advertisers offering cryptocurrency exchanges and wallet services are once again allowed to promote their products.

Google banned ads related to cryptocurrencies and initial coin offerings (ICOs) as early as June 2018. The updated policy revision stipulates that "advertisers providing cryptocurrency exchanges and wallets" targeting US consumers can advertise their services and products as long as they meet specific requirements.

The move would generate additional sales for Google’s parent company, Alphabet, though crypto ads would likely be just a drop in the bucket for the company’s $147 billion in ad revenue.

Google’s strict requirements are designed to weed out suspicious ads and blatant crypto scams. Advertisers must register with the Financial Crimes Enforcement Network (FinCEN) as “a money services business and, in at least one state, a money transmitter or a federally or state-chartered banking entity.”

The company will not be allowed to advertise ICOs, DeFi trading protocols, or promotions to buy, sell, or trade cryptocurrencies. Celebrity crypto endorsements are also prohibited, which may go some way to helping address the issue surrounding fake celebrity endorsements.

Google’s updated policy also prohibits crypto ads from linking to websites that host “cryptocurrency trading signals, cryptocurrency investment advice, aggregator websites or affiliate marketing websites containing related content or broker reviews.”

Some users believe that the fact that Bitcoin can be promoted again through Google is a "bullish" signal for this cryptocurrency.