Google has announced that it will be implementing stricter regulations for cryptocurrency advertisements in Switzerland. The new rules will go into effect on September 20th and will focus on ensuring that only compliant and licensed entities can promote their services.
One of the key changes is that advertisers offering cryptocurrency exchanges or software wallets in Switzerland will now be able to run ads if they are licensed by the Swiss Financial Market Supervisory Authority (FINMA). This means that they must meet all relevant local legal requirements in order to advertise on Google.
Ads for hardware wallets, which are devices that store private keys for cryptocurrencies and other digital assets, will also be permitted. However, these ads must be limited to storage functions only and must not facilitate the purchasing, selling, or trading of assets.
This update is significant for cryptocurrency businesses in Switzerland, as the country is a major hub for this industry. Advertisers will need to ensure that they are compliant with Google’s policies in order to maintain access to this key market and to avoid any disruptions. Building trust with their audience and staying ahead of the competition is also crucial.
In order to promote these products in Switzerland, all advertisers must obtain certification from Google. This certification ensures that advertisers meet both Google’s standards and local regulatory requirements. While this policy update focuses on Switzerland, it highlights Google’s commitment to ensuring compliance with local laws across all markets where financial products are advertised.
Google’s policy enforcement will begin with warnings, giving advertisers a seven-day grace period before any potential account suspensions. Advertisers are advised to review their compliance status now to avoid any disruptions.
As cryptocurrency regulations continue to tighten globally, Google’s updated policy reflects a growing emphasis on protecting consumers and ensuring that only compliant and licensed entities can leverage its advertising platform in Switzerland.
In conclusion, Google’s implementation of stricter regulations for cryptocurrency advertisements in Switzerland is a significant development for the industry. Advertisers must ensure they are compliant with these policies in order to maintain access to the Swiss market and build trust with their audience. This update also highlights Google’s commitment to compliance with local laws across all markets where financial products are advertised.
