Crypto News

Google will make MICA rules for crypto ads in Europe from 23. April

Google will start implementing stricter advertising policies for cryptocurnancy services in Europe under the markets of the Krupto-Function (MICA), the company announced in the recent policy correction.

This move could be a “double sword” for regulation that can prevent initial frauds for bringing coins (ICO), but risks further execution gaps, in accordance with legal advisers.

From 23. April, Cryptocurrenci exchange A Cripto Wallet Advertising in Europe must be licensed under the European MICA framework or under the Service Provider CRIPTO ASSET (CASP).

CRIPTO advertisers on Google will also need to adhere to “local legal requirements”, including “restrictions at the national level or requirements at National Mica” and Google has certified Google’s ” announcement.

The new advertising policy will relate to most European countries, including Austria, Belgium, Finland, France, Germany, Hungary, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.

Policy violations “will not lead to current account suspensions”, how a warning will be issued at least seven days before suspension on any account, adding Google’s policy update.

The shift of the policy monitors the implementation of the MICA framework in December 2024. year, which introduced The first comprehensive regulatory structure For digital property throughout the European Union.

Related: EU Mića Rules represent “Systemic” banking risks for Stablecoins – a tier

Google’s policy seen as a double sword

Google’s new requests for CRIPTO advertising are “double sword” for the crypto regulation, according to Hon NG, the main legal officer in Bitgel.

“On the one hand, they improve the protection of investors by filtrizing unregulated actors,” he said coinetelegraph.

“Strik AML / CFT and transparency MICA and transparency create a safer ecosystem, reducing frauds such as ICO frauds that tortured industries before 2023. years,” he said.

However, NG warned that the policy could be “excessively restrictive” without flexible application, especially since transition periods for national licensing differ in competent competencies.

Since Google’s transition period for national permits varies from the country, it can create “temporary shortcomings in execution,” and even higher challenges around the cost of compliance, NG said, adding:

“Less exchanges can be fought with the capital requirements of Mić (15,000-150,000 euros) or the bureaucratic obstacles of double-certification (and Google and local regulators). These measures are net positive for confidence, but need flexibility to avoid flexibility that you should not avoid innovation.”

Related: Most bank banks fail to meet the increase in demand for the cryptom of investors – poll

Other industry data do not see this as fundamental changes for Google or investor protection.

Updates may be more oriented to “Google protection from responsibility from the protection of the investors themselves”, according to Mattan, the Layer General of the Layer-3 decentralized blockchain network home network.

“Any influence of this change in Google’s policy is downstream of the MICA or CASP is loaded, together, together, then smaller players will have many difficulties in these jurisdictions,” Erder said that Erder said that Erder said COINTELEGRAPH.

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