UK Companies to Register with FCA for Cryptocurrency-Related Google Ads
From January 2025, UK companies and startups will be required to register with the Financial Conduct Authority (FCA) to advertise cryptocurrency-related services through Google.
Changes to Google’s Ad Policies in the UK
Google has introduced changes to its UK ad policies, requiring entities such as exchanges, wallet providers, and other similar services to register with the FCA before sharing advertisements through the platform.
While companies that carry out commercial operations with cryptocurrencies must go through the FCA, hardware crypto wallet providers may be exempt from this requirement if their products only serve to store private keys and do not enable the exchange or purchase/sale of digital currencies.
Ensuring Compliance with UK Regulations
These changes aim to ensure due compliance with the regulations applicable to crypto service providers in the United Kingdom, with the FCA being one of the main regulators closely monitoring the behavior of companies in this ecosystem.
The UK is one of the jurisdictions with the most demanding rules for the crypto industry. The FCA plans to implement new regulations in this space by 2026, with a phased roadmap that includes considerations on stablecoins, exchanges, staking, financial services, and exposure to these assets.
Popularity of Cryptocurrencies in the UK
According to the FCA, the popularity of cryptocurrencies has increased by 4% in the last two years, with at least 7 million adults residing in the UK being part of the sector.
Market Volatility and Regulatory Changes
The changes to Google’s ad policies occur at a time of special euphoria and volatility in the crypto market, with Bitcoin reaching highs of over $108,000 per unit before falling to $92,000 after a significant wave of liquidations.