Google increases requirements for financial products’ ads

In an attempt to provide further protection from fraud and consumer scams in as many regions as possible, Google has expanded its rules around ads that are related to financial products and services.

The first stage began in September 2021 and required providers in the UK to present documentation proving that they were indeed authorized by the appropriate local parties before they could run Google ads. These regulations are being expanded to other countries in phases now, beginning with Australia, Singapore, and Taiwan.

According to Google, advertisers must have “completed Google’s advertiser verification program in order to begin promoting their products and services” by August 30, 2022. Any advertisers that have not done so will not be allowed to promote their services.

Google’s additional financial services regulations and its shift towards complying with local rules help the platform curb its misuse for illicit activities, especially when it comes to crypto. This also helps Google avoid governmental confrontations.

Could tightening platform and government regulations spell the end for crypto?

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