Google to update virtual currency advertising rules, considering Bitcoin spot ETF

11 months ago 67

Google to update advertising rules

US IT giant Google will update its advertising rules regarding crypto assets (virtual currency) starting January 29, 2024.

The purpose of the update is to clarify advertising rules regarding virtual currency trusts. Google cites financial products like mutual funds as an example of where the rules apply. He then explained, “Starting January 29th next month, advertisers who provide trust services to the United States will be able to advertise their products and services if approved by Google.”

This content was announced on the 6th of this month. At present, the details are unclear, so it is unclear what products and services, such as ETFs (exchange traded funds), will be included.

What is an ETF?

Abbreviation for “Exchange Traded Fund” and refers to investment trusts listed on financial instruments exchanges.

Virtual currency glossary

In January, many of the Bitcoin (BTC) spot ETFs that have been applied for in the United States will have their next approval decision deadline. For this reason, Google’s announcement is drawing a lot of attention.

connection:What is the exchange-traded fund “Bitcoin ETF”? | Why BlackRock’s application is attracting attention

Google now urges all advertisers around the world to also follow local rules for targeting their ads. It said this rule applies to all accounts advertising products such as those mentioned above.

The company also updated its rules regarding NFTs (non-fungible tokens) at the end of September this year. With this update, it is now possible to advertise about NFT games through the search engine Google.

connection: Google eases advertising rules for gaming NFTs | Summary of important breaking news from the morning of the 7th

On the other hand, as regulations regarding virtual currencies are still being developed, Google is taking a cautious stance on advertising rules. For example, payment and tax services can advertise without a written application, but transactions-related businesses are not allowed to do so.

Bitcoin ETF special feature

ETF trends

Because the timing is January and it clearly targets the United States, many media outlets are reporting on this rule update in connection with Bitcoin spot ETFs.

The U.S. SEC has so far disapproved all virtual currency spot ETFs due to lack of investor protection measures, etc., but companies currently applying are taking measures to alleviate the SEC’s concerns, and are looking forward to approval. Expectations are rising. It has been said that expectations for this ETF approval have been a major factor in the rise in Bitcoin prices until recently.

In mid-January, ETFs such as BlackRock and ARK (with a final deadline of January 10th) will reach their next approval decision deadline. Many believe that many physical ETFs could be approved in January, as companies currently applying to list are amending their application documents or meeting with the SEC.

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