Google has announced that digital asset exchange and wallet advertisements in the United Kingdom must register with the Financial Conduct Authority (FCA) to comply with a new policy effective January 15, 2025.
The updated policy will permit advertisers offering crypto exchange products and services to run ads in the UK, provided they meet specific requirements.
Google stated that ads for crypto exchanges and software wallets will only be allowed if the businesses are registered with the FCA.
The policy will also extend to hardware wallets designed to store private keys for cryptocurrencies, NFTs, or other digital assets.
However, ads for hardware wallets will only be permitted if they do not offer additional services such as buying, selling, or trading.
While Google did not outline further requirements for hardware wallet advertisers, it emphasized the need to adhere to local regulations.
“As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these financial products,” Google stated.
This means advertisers aiming to promote crypto-related products on Google must familiarize themselves with local regulations in their target jurisdictions and fulfill the necessary requirements set by financial regulators.
The policy change comes amidst increased efforts by regulators to combat unauthorized crypto promotions.
On December 16, the FCA issued a warning against “Retardio,” a Solana-based memecoin and NFT project.
The FCA expressed concerns about the project’s unauthorized promotions targeting UK customers, cautioning that unregistered firms leave consumers at risk of losing funds without recourse if the business fails.
Similarly, Nigeria’s Securities and Exchange Commission (SEC) has tightened its regulations on crypto marketing.
The SEC now requires virtual asset service providers and social influencers to obtain agency approval before publishing crypto ads.
No information published in Crypto Intelligence News constitutes financial advice; crypto investments are high-risk and speculative in nature.
