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The latest updates from Google show that ads related to cryptocurrency are allowed until it does not promote any sort of gambling. These changes will come into effect starting September 15.
This new policy will continue to ban such ads for games that permit the player to stake or put money in NFTs against other players or for rewards. Any type of staking and NFT casino games that allow players to play for real-world prizes such as cash or cryptocurrency will also continue to be banned.
Before running any type of ad, Google certification is necessary. To run an ad abide by gambling and games policy. The director of sustainable ads, Scott Spencer, stated that the company had seen enough consumer harm or potential for consumer harm. Hence they will proceed with extreme caution toward cryptocurrency-related ads.
Google Ad Policy Criteria
Earlier in 2018, with the update of the Financial service policy, Google implemented a ban on advertising related to cryptocurrency and crypto exchanges. It was not mentioned whether the ban was permanent or temporary
Later in 2021, Google became a little flexible with a ban allowing some companies that were creating crypto exchanges and wallets to promote through advertising. The only compulsion is that the companies were registered with the United States Financial Crimes Enforcement Network as a money service business or a federal or state-chartered bank entity.
Now, the flexibility has increased with a new implementation of Google ads policy which will come into effect very soon, allowing the promotion of non-fungible token (NFT) games except the gambling-related content.
Google understands the strength of blockchain gaming and the popularity of NFT based games. NFT based games are in demand due to the authenticity and enhanced ownership mechanism they provide. The recent update of the Google ad policy will ensure a growth in support for NFTs.
It has also ensured a fair suspension system where a warning is issued at at least seven days’ notice permitting advertisers to solve any issues. If it is not solved then the account will be suspended after the completion of the warning period.
This is a very positive step towards the crypto and NFT community. The clarity allows them to work efficiently with the advertising. It will foster a safer environment for NFT-based gaming.
Google will permit the ads promoting hardware wallets that are designed to hold private keys of cryptocurrencies, NFTs, or other crypto-based assets. Other additional services like buying, selling, exchanging, or trading assets are not promoted.
Summary
The new Google ad policy will enhance more players entering the NFT gaming industry. Advertising is essential to attract more players to gaming. Betting and gambling-related content are strictly prohibited.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
