Google policy update requires FCA registration for UK crypto ads

Key Takeaways

Google will require UK crypto advertisers to have FCA approval from January 2025.
Hardware wallets can advertise without FCA registration if they only store private keys.

Google has updated it crypto advertising policyimposes stricter requirements on advertisers wishing to promote crypto services and products in the UK. The updated rules require crypto exchanges and software wallet providers to register with the Financial Conduct Authority (FCA) before advertising on their platform.

Although these services fall under the FCA's strict registration requirement, advertisements for hardware wallets are subject to different rules. The new policy allows the advertising of hardware wallets without FCA registration, as long as the devices are only for storing private keys and do not enable trading or exchange services.

All advertisers must obtain Google certification and comply with local regulations in their target markets. The policy update, effective January 15, applies globally to all accounts advertising these financial products.

Google has changed its cryptocurrency advertising policy several times. In 2018, all crypto-related ads were banned due to concerns about scams. This situation increased in 2021, with Google allowing ads from regulated crypto exchanges and wallet providers, albeit under certain conditions.

The latest twist is the arrival of Bitcoin ETFs in the US. In late 2023, Google announced updates to its ad policy, which will allow ads for “Cryptocurrency Coin Trusts,” starting January 29th.

This change came when Wall Street and the crypto world were heavily focused on the SEC's decision regarding spot Bitcoin ETFs. Just weeks later, on January 10, the SEC officially approved these funds for trading.