- 1 Google specified that the updated policy would permit ads from “advertisers offering Cryptocurrency Coin Trust.
- 2 The crypto market is banking on BTC ETF approvals, evident in Bitcoin’s nearly 74% surge in the past 90 days.
Tech giant Google is set to update its cryptocurrency advertising policy, allowing ads related to crypto trusts starting January 29, 2024. This policy adjustment aligns with the predicted approval of spot Bitcoin exchange-traded funds (ETFs) in the United States, anticipated by Bloomberg’s ETF analysts with a 90% likelihood by January 10, 2024.
In a policy change log on December 6, Google specified that the updated policy would permit ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.” Cryptocurrency coin trusts, characterized as financial products enabling investors to trade shares in trusts holding substantial amounts of digital currency, are likely to include ETFs.
Google emphasizes that advertisers must adhere to local laws in the regions their ads target, applying the policy globally to all accounts advertising these products. To qualify for potential crypto trust advertisers, Google certification is mandatory. It entails holding the appropriate license from the relevant local authority, and the products, landing pages, and ads must comply with local legal requirements.
While Google already permits advertising for certain crypto and related products, it excludes ads for crypto or non-fungible token (NFT)-based gambling platforms, initial coin offerings, decentralized finance protocols, and services offering trading signals.
The anticipated approval of U.S. spot Bitcoin ETFs has fueled the industry’s optimism. With 13 Bitcoin ETF applicants awaiting approval, Bloomberg’s analysts estimate a 90% probability of approval by January 10, 2024, suggesting potential simultaneous approvals for multiple pending applications.
Several prominent fund managers, including BlackRock, Grayscale, and Fidelity, have reportedly engaged with the U.S. Securities and Exchange Commission, discussing crucial technical details concerning their ETF bids.
The crypto market is banking on these approvals, evident in Bitcoin’s nearly 74% surge in the past 90 days, with some analysts anticipating a new all-time high in 2024.
As Google adapts its advertising policies to align with evolving trends in the crypto space, the intersection of tech and finance continues to shape the landscape, with eyes on the potential breakthroughs in the approval of Bitcoin ETFs in the United States.
Controversy Surrounds Google’s Gemini AI Demo Video
Google’s recent AI model, Gemini, showcased in a six-minute tech demo video, has ignited controversy as critics accuse it of being “basically entirely fake.” The video, amassing 2.1 million views on YouTube since its release, presents seamless interactions between Gemini and a human operator, analyzing drawings, hand gestures, and even inventing a game.
However, Google DeepMind executive Oriol Vinyals clarified that while the prompts and outputs are real, they were “shortened for brevity.” In reality, Gemini’s interactions were text-based and took longer than depicted.
Despite a disclaimer noting reduced latency and shortened outputs for brevity, Google employees expressed concerns. One employee argued the video paints an unrealistic picture of Gemini, showcasing how easy it is to make the AI tool appear more advanced than reality. Google’s CEO, Sundar Pichai, made no mention of the finetuning in a Dec. 7 post, fueling the controversy.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.