Regulated exchanges in Japan and the United States will be able to place advertisements on Google starting October.
This is after the company went back on its initial ban on cryptocurrency advertisements that took effect in June.
The new policy update appears to be a step towards addressing some of the shortcomings of the ban including its disproportionate effect on legitimate businesses. The initial ban was meant to curb random misleading and fraudulent advertisements meant to mop us money from unsuspecting investors.
“Advertisers will need to be certified with Google for the specific country in which their ads will serve. Advertisers will be able to apply for certification once the policy launches in October,” a statement on the changes says.
Deceptive advertisements swamped the internet at the height of the cryptocurrency craze promising high returns. A number of leading technology firms like Facebook and Twitter imposed sweeping bans on cryptos and initial coin offerings in a bid to stem the problem.
The policy update affects all advertisers globally although those outside Japan and the US will have to individually apply for permission.
Facebook is already allowing pre-approved advertisements on its platform.
Google’s decision could also be partly commercial. The tech giant relies to a large part on advertisements for revenue.
The cryptocurrency industry remains largely unregulated and presents a dilemma for companies like Google.