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ZyCrypto 2025-04-15 13:51:27

Google Announces New Ad Regulation for European Union (EU) Crypto Companies and Wallets

Google Announces New Ad Regulation for European Union (EU) Crypto Companies and Wallets

Google has announced that crypto exchanges and wallets can only advertise in the European Union if they hold an EU license under the Markets in Crypto Assets (MiCA) regulation, marking a major change in the ad requirements. The changes come into effect on April 23. Crypto companies must prove they are registered as a Crypto Asset Service Provider (CASP) under MiCA. European Union countries already have existing agreements with Google, complicating matters further. Finland has a deadline of June 2025, France has one in June 2026, and Germany has one in December 2025. These deadlines will remain in place and, upon completion, will switch over to the new MiCA license. Violations of the new procedures will not result in immediate action but will include a 7-day warning for the crypto companies to adhere to the new rules. Google is making major changes to its ad requirements, changing them for 27 European countries and increasing the requirements for crypto exchanges and wallets. Companies must now obtain a MiCA license and an ad certification to continue advertising in 27 European countries. With pressure from the European Union, Google has effectively increased the amount of regulation for the crypto industry at a time when European lawmakers suggest that American crypto policies compete with their interests. Crypto exchanges, such as OKX, Crypto.com, and MoonPay, have already secured their MiCA licenses. Many countries within the European Union, such as Germany, Finland, and France, have local licenses that extend to around late 2025 but will conform to the MiCA agreement once the contracts have ended. This marks a new period where ad licenses come under one umbrella, supposedly simplifying the procedure and not varying between different countries in the EU. Hon Ng, Bitget Chief Legal Officer, says that the changes come as relief, eliminating players who abused the system, such as crypto scams that present themselves as legitimate businesses to defraud customers and give the blockchain industry a bad name. Ng points out that the MiCA has an anti-money laundering focus and has been particularly focused on ending terrorism funding. Further, the growing number of crypto scams has often devastated customers with little recourse or accountability. According to Ng, these changes could stop fraudulent ICOs that have preyed on customers for some time. Alphabet, the parent company of Google, has seen a 12% profit with year-to-date prices. Alphabet has seen massive profits due to the positive sentiment surrounding Artificial Intelligence innovations. Alphabet has been interested in blockchain technology, particularly with a Coinbase partnership to develop web3 apps on cloud infrastructure. Alphabet may be enforcing strict regulations to avoid any lawsuits coming from the European Union, especially since Google is seen as an American company and could be seen as a competitive threat due to the isolationist policies of the United States.

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