Google has announced that from 23 April it will make stricter requirements for crypto ads in Europe. This change is in line with the new Markets in Crypto-Assets (MICA) framework of the European Union.
From now on, crypto fairs and providers of digital wallets must have a valid license under MICA or the Crypto Asset Service Provider (CASP) rules to be allowed to advertise on the Google platform.
New advertising requirements
From the end of April, advertisements for crypto services must comply with both the MICA regulations and any additional local regulations. In addition, an extra threshold applies: advertisers must be certified in advance by Google itself to be admitted to the advertising platform at all.
The stricter rules apply to almost all European countries, including the Netherlands, Belgium, France, Germany and Spain.
Two -edged sword for the sector
According to Hon NG, legal director at Crypto fair Bitget, the sharpened rules have both advantages and disadvantages. On the one hand, they improve the protection of consumers and limit the risk of fraud, such as earlier scandals surrounding Initial Coin Offerings (ICOs). On the other hand, the new rules can hit smaller crypto companies heavily.
NG mainly points to the lack of uniformity between EU member states: the risk of enforcement hiates arises due to a variety of transition periods.
“Smaller crypto companies can encounter considerable obstacles, such as capital requirements from € 15,000 to € 150,000 under mica and double certification obligations via Google and local regulators. Flexibility is needed not to nip innovation in the bud,” said NG.
Google protects its own liability?
Mattan Ereder, legal adviser at Blockchainbedrijf ORBS, sees no fundamental change in the new measures for the protection of investors. According to him, the policy adjustments seem to be primarily intended to protect Google itself legally:
“Google’s measures are primarily aimed at reducing their own liability risks. This can lead to a market in which only large, wealthy players can continue to compete.”
Violations: Warning before suspension
Google emphasizes that the new policy is being maintained in a step -by -step way. In the event of a violation, a warning follows, after which advertisers are given at least seven days to solve the problems. Only then can an account be suspended.
This new approach is in line with the broader introduction of the MICA framework, which since December 2024 has been the first extensive regulation package for digital assets within the European Union.
Source: https://newsbit.nl/google-scherpt-advertentieregels-voor-cryptodiensten-aan-in-europa/
