Google Enforces MiCA Rules for Crypto Ads in Europe Starting April 23

Google is tightening its grip on crypto ads in Europe by enforcing MiCA rules. This policy will take effect on April 23, 2025. This means that the tech giant will now require cryptocurrency exchanges and wallet providers to be licensed under the Markets in Crypto-Assets (MiCA) framework or registered as a Crypto Asset Service Provider (CASP).

Additionally, advertisers before running ads must meet some necessary criteria such as meeting the national legal requirements and getting certified by Google.

Google’s new policy aligns with the European Union’s Markets in Crypto-Assets (MiCA) framework, which came into effect on December 30, 2024. This move aims to enhance investor protection by filtering out unregulated actors and reducing scams like ICO fraud.

Google’s new advertising policy for cryptocurrency services will apply to most European Union countries, namely Western Europe: Austria, Belgium, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain. Also, Eastern Europe: Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia, Slovenia, and Nordic countries, such as Denmark, Finland, and Sweden.

Reactions on the Crypto Ads Policy From Industry Experts

Google’s new crypto advertising policy has sparked mixed reactions from industry experts. Some experts like Hon Ng, Chief Legal Officer at Bitget, see it as a “double-edged sword.” On the one hand, the policy enhances investor protection by filtering out unregulated actors and creating a safer ecosystem through strict Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) and transparency requirements. However, Ng warns that the policy could be overly restrictive without flexible implementation, particularly for smaller exchanges that may struggle with MiCA’s capital requirements and dual certification processes.

On the other hand, some experts, like Mattan Erder, General Counsel at Orbs, believe the policy update is more about protecting Google from liability than investors themselves. Erder notes that the impact of this change will depend on the regulations themselves and that smaller players may face significant challenges competing in jurisdictions with burdensome requirements. The varying transition periods for national licenses across countries may also create temporary gaps in enforcement and compliance costs. While the policy aims to enhance trust, it needs flexibility to avoid stifling innovation.