Google’s laying down the law on crypto ads in Europe starting April 23, and it’s got the industry buzzing.
If you’re a crypto exchange or wallet provider looking to advertise, you better have your papers in order, MiCA-compliant papers, to be exact.
EU’s new crypto regulation is officially in full swing since December, and Google making sure everyone plays by the rules.
No exceptions
Now, if you want to run crypto ads across Europe, you’ll need two things, local licensing under MiCA and Google certification. No exceptions.
This policy covers 30 countries, including Germany, France, and Italy. And while some nations get a little breathing room with transition periods, for example Germany’s lasts until December 30, the clock is ticking for everyone else.
Now, let’s talk about MiCA, the EU’s big plan to clean up the crypto industry. On paper, it’s all about protecting investors and kicking scams to the curb.
Hon Ng from Bitget says these rules could be a game-changer for safety, especially with MiCA’s anti-money laundering standards and transparency requirements.
Remember those ICO scams that were everywhere before? MiCA might just shut that nonsense down for good.
Requirements
But here’s where it gets tricky. Smaller crypto firms? They’re sweating bullets.
Ng warns that meeting MiCA’s capital requirements, €15,000 to €150,000, and juggling certifications from both Google and local regulators might crush them before they even get started.
It’s like asking a mom-and-pop shop to compete with Amazon overnight. High compliance costs could choke innovation faster than you can say “blockchain.”
Mattan Erder from Orbs isn’t buying Google’s altruistic angle either. He says this move is less about protecting investors and more about covering Google’s own tail.
If MiCA registration turns out to be too exclusive or expensive, smaller players might get pushed out entirely while the big dogs keep running the show.
Gatekeeper
And let’s not forget Google’s enforcement strategy, it’s not exactly swift justice.
Advertisers who break the rules will get a seven-day warning before any account suspensions kick in. So there’s some wiggle room, but don’t count on it lasting long.
So Google’s new policy might clean up the crypto ad space, but it could also slam the door on newcomers trying to make their mark.
For small firms, this isn’t just a bump in the road, but it might be a dead end. Whether this move boosts safety or stifles innovation, is remains to be seen.
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