Google’s new ad rules for EU crypto firms mandate a MiCA licence for advertising. Effective April 23, 2024, compliance is required for 27 nations. Existing country-specific agreements complicate the transition. The regulations aim to eliminate scams and unify licensing across the EU, while Alphabet continues to profit amid AI developments.
Google has implemented new advertising regulations requiring crypto exchanges and wallets within the European Union (EU) to possess an EU licence under the Markets in Crypto Assets (MiCA) framework. Effective from April 23, 2024, these firms must demonstrate registration as a Crypto Asset Service Provider (CASP) to qualify for advertising.
The pre-existing agreements between Google and EU countries further complicate compliance, with specific deadlines set for Finland (June 2025), France (June 2026), and Germany (December 2025). Upon these deadlines, companies must transition to the new MiCA licensing system. Non-compliance will incur a 7-day warning period before any punitive measures are enforced.
This regulatory update affects 27 European nations, aiming to streamline advertising protocols by consolidating MiCA licensing. Such measures come amid mounting pressure from EU legislators, who view American crypto regulations as potentially competitive and detrimental to EU interests.
Several crypto exchanges, including OKX, Crypto.com, and MoonPay, have already acquired their MiCA licences. While local licences exist in countries such as Germany and France until late 2025, these will phase into the unified MiCA framework. This shift aims to harmonise advertising licensing across the EU, simplifying processes for crypto companies.
Hon Ng, Bitget’s Chief Legal Officer, welcomes the new regulations, believing they will help eliminate fraudulent actors posing as legitimate businesses. Ng emphasises the MiCA’s focus on anti-money laundering and counter-terrorism finance, addressing the recurring issue of scams that have plagued consumers without clear recourse.
Parent company Alphabet has reported a year-to-date profit increase of 12%, benefitting from positive trends in Artificial Intelligence developments. Alphabet’s interest in blockchain and its collaboration with Coinbase to develop web3 applications highlights its strategic positioning in the emerging tech landscape. Stringent regulations may also serve to protect against potential litigation from the EU, as Google navigates its perception as an American corporation with competitive implications amidst US isolationist policies.
