Google to Mandate FCA Registration for Crypto Ads Targeting the UK Starting in 2025

Google has announced a new policy update that will require advertisers promoting cryptocurrency exchanges and software wallets in the United Kingdom to be registered with the Financial Conduct Authority (FCA). The update, set to take effect on January 15, 2025, aims to ensure that only FCA-approved companies can advertise crypto products and services on the platform.

FCA Registration Requirement for Crypto Ads

Under the new policy, crypto exchanges and software wallet services must obtain FCA registration to be eligible to run ads on Google targeting UK users. This requirement is part of Google's broader effort to ensure that financial products promoted through its advertising platform comply with local regulations and provide a safer environment for consumers.

Google's announcement also extends to hardware wallets designed for storing private keys for cryptocurrencies, non-fungible tokens (NFTs), and other digital assets. Ads for these products will be allowed, provided the wallets do not offer additional services such as buying, selling, or trading digital assets.

While Google has not outlined further specifics for hardware wallet ads, it emphasized that all advertisers must comply with the regulations in the jurisdictions where their ads are being shown. As part of the policy, Google expects advertisers to fully adhere to local laws governing crypto-related promotions.

Global Impact on Crypto Advertising

The new policy is not limited to the UK but will apply globally. Advertisers aiming to promote crypto-related products through Google Ads must ensure compliance with the financial regulations in each region where their ads are displayed. This includes obtaining the necessary approvals and certifications from local regulators such as the FCA in the UK.

Regulatory Push Against Unauthorized Crypto Promotions

Google's updated policy comes amid growing regulatory scrutiny over cryptocurrency advertising worldwide. In the UK, the FCA has been actively working to combat unauthorized and potentially misleading crypto promotions. On December 16, the FCA issued a warning about "Retardio," a Solana-based memecoin and NFT project. The regulator flagged concerns about the project’s lack of FCA registration, highlighting that consumers engaging with unregistered projects could risk losing their investments if the company were to go out of business.

In addition to the UK, other countries are tightening regulations on crypto-related advertising. The Securities and Exchange Commission (SEC) of Nigeria has recently implemented stricter rules for marketing and promoting virtual assets. The SEC now requires virtual asset service providers and social media influencers to obtain explicit permission from the agency before publishing any crypto advertisements.

Conclusion

As regulators globally continue to tighten controls on cryptocurrency advertising, Google’s new requirement for FCA registration marks a significant shift in how digital asset promotions will be handled on its platform. Starting in January 2025, advertisers targeting UK audiences will need to ensure they meet all regulatory requirements before running crypto-related ads. This move aligns with ongoing efforts to enhance consumer protection and ensure that only licensed, regulated businesses are able to advertise financial products.