Google is updating its advertising policies for financial products, specifically focusing on cryptocurrencies. The new rules will take effect on Sept. 20.
Why it matters: The new policy clarifies Google’s stance on cryptocurrency-related ads in Switzerland, aiming to ensure that only compliant and licensed entities can promote their services.
What’s new:
Crypto exchanges and wallets: Advertisers offering cryptocurrency exchanges or software wallets in Switzerland can now run ads if they are licensed by the Swiss Financial Market Supervisory Authority (FINMA). This includes meeting any other relevant local legal requirements.
Hardware wallets: Ads for hardware wallets — devices that store private keys for cryptocurrencies, NFTs, or other digital assets — are also permitted. However, these products must be limited to storage functions only and must not facilitate purchasing, selling, or trading of assets.
Why we care. Switzerland is a significant hub for cryptocurrency businesses. Advertisers need to stay compliant with Google’s policies to maintain access to this key market, avoid disruptions, and build trust with their audience, all while staying ahead of the competition.
What to watch:
Certification requirement: All advertisers must obtain certification from Google to promote these products in Switzerland. This certification ensures that advertisers meet both Google’s standards and local regulatory requirements.
Global impact: While the focus is on Switzerland, this policy update underscores Google’s broader commitment to ensuring compliance with local laws across all markets where financial products are advertised.
Be smart: Google’s policy enforcement will start with warnings, giving advertisers a seven-day grace period before any potential account suspensions. Advertisers should review their compliance status now to avoid disruptions.
Bottom line: As cryptocurrency regulations tighten globally, Google’s updated policy reflects a growing emphasis on protecting consumers while ensuring that only compliant and licensed entities can leverage its advertising platform in Switzerland.