Google has restored support for cryptocurrency advertisements, following an update of its rules that came into effect on Tuesday August 3.
After three years of silence on advertisements pertaining to crypto and Initial Coin Offerings (ICOs), Google is loosening up its draconian policies, but still expect any advertising party to meet a specific set of criteria.
Naturally, the reversal of the ban will drive additional revenue streams for Google's parent company, Alphabet, which is already generating some $147bn from advertising revenue.
Google is coming prepared, though, and advertisements that are deemed unworthy will not be allowed, thus helping the tech giant to clamp down on crypto scams, pyramid schemes and other illicit efforts propagated by criminals.
The company will not be accepting advertisements that relates to buying, selling or trading crypto, nor is it going to accept ads for ICOs and DeFi trading.
Celebrities may not appear on Google ads openly endorsing crypto either, probably referring to previous incidents where famous people's identities were copied to mislead fans.
Google is not the only platform to take a closer look at crypto advertisement, as TikTok undertook a similar move in the hope of suspending all financial promotions on the platform, which has served as a conduit of underhand operations.