It seems that Google is making efforts these days to boost the crypto space, as the tech giant is loosening restrictions on the crypto-related ads. Check out the latest reports about this below.
Google is loosening restrictions on crypto ads
Google has recently announced an update to its policy regarding advertisements about cryptocurrencies globally.
The search engine giant will modify its crypto policy in January 2024 to cover the advertising regulations for Cryptocurrency Coin Trusts.
The update permits US advertisers to endorse Cryptocurrency Coin Trusts through Google ads if they meet certain conditions and receive certification from Google.
Cryptocurrency Coin Trusts are investment vehicles that enable investors to trade shares in trusts that hold different digital currencies, as per the announcement.
Google says that the update reinforces its commitment to adhere to local laws and align with the anticipated approval of spot Bitcoin (BTC) exchange-traded funds (ETFs).
Businesses that are indirectly involved in cryptocurrencies, such as those that accept crypto payments, create crypto mining equipment, or provide Web3 and blockchain educational materials, will be allowed to advertise under the new policy.
However, strict regulations will still apply to non-fungible token (NFT) gaming and other specific crypto products based on their offerings.
Advertisements for hardware wallets and other crypto-related services will be permitted, but subject to certain conditions.
The policy explicitly prohibits ads for initial coin offerings (ICOs), decentralized finance (DeFi) services, and the purchase, sale, or trade of specific cryptocurrencies, according to the latest reports that have been presented by the online publication the Daily Hodl.
What’s new in the crypto space
The following are the top crypto-related stocks and their returns for last week. Bitfarms and Core Scientific, which are smaller Bitcoin mining companies, outperformed Bitcoin’s gains with an increase of 46.2% and 43.5% respectively.
Argo Blockchain and Terawulf also experienced gains of 31% and 20% respectively, according to TradingView’s data. Check out more details about this in the previous article we shared.
