Updates to Financial products and services policy (July 2022)

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In July 2022, Google will update the Financial products and services policy to clarify the scope and requirements for the advertisement of cryptocurrency related business and services. 

Beginning July 7th, 2022, advertisers offering Cryptocurrency Exchanges and Wallets targeting France, Germany, South Korea and the Philippines may advertise those products and services when they meet the following requirements and are certified by Google. Advertisers offering Cryptocurrency Exchanges targeting the United Arab Emirates, Hong Kong and Thailand may also advertise those products and services when they meet the following requirements and are certified by Google. To be certified by Google, advertisers will need to meet the following requirements, depending on the country they are targeting:

France (Cryptocurrency Exchanges and Wallets)

  • Advertisers must be registered with the AMF (Autorité des Marchés Financiers) as a Digital Asset Service Provider (DASP). Any other local legal requirements must also be complied with.

Germany (Cryptocurrency Exchanges and Wallets)

  • Advertisers must hold the appropriate license for the advertised activities, e.g. financial brokering services license, multilateral trading facility license and/or crypto custody business license with the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht). Any other local legal requirements must also be complied with.

Philippines (Cryptocurrency Exchanges and Wallets)

  • Advertisers must obtain a certificate of authority as a Money Services Business from the Philippine Central Bank (BSP). Any other local legal requirements must also be complied with.

South Korea (Cryptocurrency Exchanges and Wallets)

  • Advertisers must have successfully filed a virtual asset service providers (VASP) Report with the Commissioner of the Korea Financial Intelligence Unit (KoFIU). Any other local legal requirements must also be complied with.

United Arab Emirates (Cryptocurrency Exchanges)

  • Advertisers must be licensed to operate a multilateral trading facility with the Financial Services Regulatory Authority (FSRA). Any other local legal requirements must also be complied with.

Hong Kong (Cryptocurrency Exchanges)

  • Advertisers must “opt-in” the licensing regime and have obtained a type 1 (dealing in securities) license and type 7 (providing automated trading services) license from the Securities and Futures Commission (SFC) of Hong Kong. Any other local legal requirements must also be complied with.

Thailand (Cryptocurrency Exchanges)

  • Advertisers must obtain the relevant Digital Asset Business license from the Securities and Exchange Commission (SEC) of Thailand. Any other local legal requirements must also be complied with.

As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these financial products. For more details, see About restricted financial products certification.

Violations of this policy will not lead to immediate account suspension without prior warning. A warning will be issued, at least 7 days, prior to any suspension of your account.

 

(Posted in May 2022)


 

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