Crypto trusts, Google to update its Ads policy

13 December 2023

Category

Changes for Google's cryptocurrency advertising policy. A new era of advertising for “Crypto Trusts” is coming with the update of policy that will permit the use of the trusts related to cryptocurrencies. The new policy will take effect on January 29 2024, ahead of the expected approval of Bitcoin Exchange-Traded Funds (ETFs). That is to say "keep going with advertising, but with a good regulation.

How the ads-crypto exchange will work

So what will happen by next year is that advertisers will find authorization to insert ads in the United States for "Cryptocurrency Coin Trusts," a category of financial products that allows investors to trade and turn shares into trusts. Those trusts will hold large pools of digital currency. Google has defined these trusts as closed-end funds that invest exclusively in cryptocurrencies, such as Bitcoin.

The changes are not limited to just the United States but will apply globally to all accounts advertising Cryptocurrency Coin Trusts. The Google's intention is to stem crypto scams. A report from Lloyds Bank, cited by Crypto news, highlighted how a growing number of UK investors have been or are at risk of being scammed by a series of fake adverts posted on social media. The number of cryptocurrency investment scams reported by victims increased by 23%. The most common age range for victims of cryptocurrency scams is 25 to 34, making up a quarter of all cases.

SOURCE: Cryptonews

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