Google has announced updates to its crypto advertisement policy in the United Arab Emirates (UAE). According to the company, the update will clarify the scope and requirements for adverts for complex speculative products.
According to the changes, companies engaging in crypto-related services who wish to push their products through Google to the UAE must first pass the requirements to do so before they can be allowed to offer such services.
Google updates its standards for advertisement in the UAE
According to Google, firms pushing crypto services in the UAE need to register with at least one of the regulators in the region, including the Financial Services Regulatory Authority (FSRA), the regulator in Abu Dhabi’s ADGM, Dubai’s Virtual Asset Regulatory Authority (VARA), or the Dubai Financial Services Authority (DFSA) in the international financial center DIFC.
The requirements also mentioned that the firms need to be in line with all the mandated legal requirements of the bodies. “As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these financial products,” Google said in its announcement.
According to the statement, firms guilty of violating the rules will have their accounts suspended, with the company noting that it will provide a seven-day notice before suspending any accounts. Binance and other exchanges have been advertising on Google, with other local exchanges. The country has also shown increased attention to digital assets, with about 30% of its population now holding crypto.