In a significant move that underscores the growing regulatory framework surrounding digital currencies, Google has announced that starting April 23, cryptocurrency exchanges and software wallets will only be allowed to advertise within the European Union if they hold a license under the EU’s Markets in Crypto-Assets (MiCA) regulation. This development was disclosed in a recent announcement by the tech giant.
According to Google, advertisers are now required to obtain certification from the company, verifying that they are registered as a Crypto-Asset Service Provider (CASP) under MiCA. Moreover, all advertisers must adhere to any additional legal obligations that may vary from country to country.
The MiCA regulation, which encompasses all 27 EU member states, represents a critical shift away from the previously fragmented national licensing regimes that have governed cryptocurrency advertising in various regions. This centralization aims to streamline the regulatory landscape for crypto-related businesses operating within the EU.
As part of this transition, Google has granted a temporary reprieve for crypto platforms that are already engaging in advertising in France, Germany, and Finland under existing local regulations. These national licenses will remain valid until mid-to-late 2025, effectively mirroring each country’s transition period to MiCA compliance.
Furthermore, Google has stated that it will not immediately suspend accounts for non-compliance. Instead, the company will issue a warning at least seven days before any enforcement action is taken, allowing advertisers time to align their operations with the new requirements.
Several cryptocurrency exchanges, including OKX, Crypto.com, Bitpanda, Boerse Stuttgart Digital, eToro, and others, have already secured their MiCA licenses, positioning themselves favorably under this new regulatory environment.
This new advertising restriction marks a pivotal moment in the relationship between major tech firms and the rapidly evolving cryptocurrency sector, as compliance with regulatory standards becomes an essential criterion for market participation.
