Google Bans DeFi From Advertising On Its Platform, What Now?

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Google Bans DeFi From Advertising On Its Platform, What Now?

Google Bans DeFi From Advertising On Its Platform, What Now?

Beginning on August 3rd, Google‘s new advertising policy came into effect. The new policy changes the landscape for cryptocurrency adverts on the world’s biggest search engine. Cryptocurrency exchanges and wallets now may advertise on Google but they must first meet several requirements to be able to do so.To get more news about PAXOS, you can visit wikibit.com official website.
  DeFi protocols are having advertisements banned away from them by Google, together with ads on token liquidity pools. This move puts new DeFi protocols in a difficult spot and older protocols will themselves have to deftly navigate the new regime of regulations.
  The Google DeFi Ban
  Google has opened its doors to the gamut of cryptocurrency adverts with its new policy on Financial products and services. However, there's a catch as it requires ads for exchanges and wallets to meet certain criteria.
  The exchange or wallet in question should be duly registered with FinCEN as a money services business, and with a federal or state-chartered bank entity. The advertisers are also required to be fully compliant with the local legal requirements and to obtain a Cryptocurrency Exchanges and Wallets certification with Google.
  Despite the milestone hit by Google, DeFi has been shunned as the new rules entirely exclude them from any form of advertising. DeFi trading protocols, initial DEX offerings, token liquidity pools, and unregulated DAPPs are also totally banned.
  Other ads that have been banned include cryptocurrency trading signals and investment advice. It is pertinent to note that Google clearly states that the list is non-exhaustive.
  The Implications for DeFi
  DeFi is growing at a rapid pace and is closing the gap between it and TradFi. DeFi market capitalization already stands tall at $80.20 billion, and DeFi protocols like Uniswap, Terra, AAVE, and PanCAKESwap have already gained significant traction in recent months.
  DeFi‘s outright ban from utilizing Google’s advertisements may stifle the growth of new protocols that are just getting started in the industry whose potential reach to attract new users will be severely limited. However, through the use of innovative marketing tactics, they could tilt the odds in their favour once again.
  For the major players in DeFi, the impact of Google's decision may be mitigated by their already established dominance in the space. They may face a slight challenge in getting the word out about their new services, but given their advantage as first-movers, there are myriad ways they could potentially bypass this issue.

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