Google tightens crypto ad policies to combat financial scams

Google is set to roll out significant changes to its advertising policy on January 15, aiming to curb financial scams in the UK—particularly those linked to the fast-growing cryptocurrency sector.

The move follows mounting complaints from UK authorities about misleading or fraudulent crypto promotions, prompting the tech giant to align its advertising rules with stringent regulations set out by the UK's Financial Conduct Authority (FCA).

Under the updated policy, Google will permit advertisements for hardware wallets that store private keys for cryptocurrencies, including non-fungible tokens (NFTs) and other digital assets.

However, it will not allow marketing efforts for services that buy, sell, exchange, or trade cryptocurrencies. To ensure compliance, Google plans to present crypto platform ads to the FCA to verify licensing.

Importantly, the tech giant has laid out a clear path for dealing with non-compliant firms: offending accounts will not face immediate suspension. Instead, they will receive a warning and a seven-day grace period to align with the new policy—particularly the requirement of UK FCA registration. Should they fail to meet the guidelines within that timeframe, Google will then initiate account suspensions.