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In a subtle but significant move, Google has quietly adjusted its crypto advertising guidelines, ahead of the anticipated launch of a bitcoin exchange-traded fund (ETF) in the US.
Starting January 29, 2024, the search giant's revised policy will allow advertisers offering “Cryptocurrency Coin Trusts” targeting the United States, as long as they meet specific requirements and become certified by Google.
This development marks a notable shift from Google's historically cautious stance toward cryptocurrency-related ads. The company had previously placed embargoes on all types of crypto advertisements, citing concerns about possible fraud and misleading promotions. However, as the bitcoin landscape evolves and gains widespread acceptance, Google appears to be recalibrating its approach.
The updated guidelines specifically address financial products that allow investors to trade shares in trusts that hold substantial amounts of digital currency. This indicates a recognition of the growing popularity and legitimacy of such investment vehicles within the financial ecosystem.
As of December, there are more than 10 companies racing to launch the first bitcoin spot ETF, including BlackRock, Fidelity, and Ark Invest. Approval of these funds is expected to spur billions of dollars in new industrial investments.
The move also demonstrates a more nuanced law enforcement strategy by Gogole. Instead of immediately suspending accounts for policy violations, Google will issue warnings at least seven days before any potential account suspension.
The updates were announced on December 6, but began gaining more attention on social media on Monday.
Still, it remains to be seen how those policies will play out once the market is active. As The Wall Street Journal reported, serious questions remain about ETFs that could serve the market beyond bitcoin.
In particular, a storybitcoin-etf-is-easy-what-comes-next-could-get-dangerous-03453072″>highlighted potential issues with ETFs for centralized cryptocurrencies like eth, and the complications they could bring.
As the crypto industry continues to mature and attract institutional interest, Google's subtle policy adjustment reflects a broader recognition of the evolving financial landscape, setting the stage for greater widespread adoption of bitcoin.
