Did you know Overview of Crypto Advertising Policies on Facebook, Google, Amazon, and TikTok
Whether you're running a new crypto project, promoting educational services to clients, or running a thriving crypto-based business, nailing your paid campaigns on Google Ads and Meta (Facebook Business Suite) has never been more crucial.
The decision made by these advertising platforms to ban anything crypto-related left many crypto enthusiasts disappointed. But here's the good news: both Google and Facebook have now opened their advertising platforms to select instances of Web3 and crypto businesses. Moreover, the list of allowed countries and services expands, creating even more avenues for crypto marketers to thrive.
In this article, we will learn more about untapped possibilities of crypto advertising on Google Ads, Meta, Amazon, and TikTok.
Facebook and Instagram Ads Crypto Policy
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Facebook initially banned crypto-related advertisements long ago in 2018. The company wanted to prohibit ads that promote financial products and services associated with misleading or deceptive practices, including binary options, initial coin offerings, and cryptocurrency.
However, both Facebook and Google have recently made changes to these regulations. As a result, Facebook now allows advertisers to run crypto ad campaigns on its platform.
To ensure compliance, Facebook has implemented a crypto advertising policy, which includes the following guidelines:
1. Advertiser Confirmation: Advertisers planning to promote cryptocurrency, cryptocurrency exchanges, cryptocurrency mining software and hardware, or cryptocurrency investment advice must first receive confirmation of their eligibility.
2. Additional Requirements for Unlicensed Crypto Companies: Crypto companies without approved licenses can still seek approval by fulfilling additional requirements, which include a registered business entity, physical address, and privacy policy. Companies also must not make false or misleading advertising claims, ensuring transparency and trustworthiness.
To learn more about the updated policy, you can find detailed information on Facebook's official website here.
Google Ads Crypto Policy
As well as Facebook in 2018, Google prohibited all ads related to cryptocurrency content on its ad platforms, including wallets, initial coin offerings (ICOs), and trading advice. This ban was implemented due to concerns regarding the "questionable" nature of the advertised products.
Google's Director of Sustainable Ads, Scott Spencer, highlighted cryptocurrency advertisements as a potential threat to the user experience, and the company took a firm stance by enforcing the ban.
But in August 2021, Google revised its policies to allow the running of crypto ads. Although, running a crypto ad on Google still comes with specific requirements and certification from Google. These requirements include:
1. Duly registered status: a) Registration with FinCEN as a Money Services Business and with at least one state as a money transmitter, or b) Being a federal or state-chartered bank entity.
2. Compliance with relevant legal requirements: Advertisers must adhere to all legal requirements, whether at the state or federal level, including local regulations.
3. Compliance with Google Ads policies: Advertisers must ensure that their ads and landing pages comply with all Google Ads policies.
If you are a crypto advertiser and meet these requirements, you can advertise crypto exchanges and wallets. However, Google still prohibits ads for initial coin offerings, decentralized finance (DeFi) trading protocols, or the promotion of purchasing, selling, or trading cryptocurrencies or related products.
To sum up, Google now permits advertising the following:
Cryptocurrency wallets
- Crypto exchanges
- Cryptocurrency trading platforms
- Businesses accepting crypto payments
- Blockchain technology-based websites and platforms
- Crypto mining hardware retailers
- Crypto and blockchain education providers
- Crypto consulting in tax, legal, and security services
Amazon
Unfortunately, Amazon does not allow ads promoting cryptocurrencies, cryptocurrency exchanges, initial coin offerings (ICOs), or binary options. This policy is in place to protect users from potential scams, fraudulent schemes, and misleading practices often associated with these products.
Amazon also banned all advertisements related to get-rich-quick schemes, pyramid schemes, and ads for short-term high-interest loans, including "payday" loans, with a repayment period of fewer than 12 months and an Annual Percentage Rate (APR) exceeding 50%.
TikTok Ads Crypto Policy
In 2021, TikTok implemented a policy prohibiting influencers from promoting cryptocurrencies and cryptocurrency-related financial services. This decision is part of TikTok's ongoing efforts to ensure user safety and eliminate crypto-related scams and fraudulent schemes prevalent on the social network.