Did Google Just KILLED Small Crypto Players With New EU Policy?
- Google enforces EU MiCA crypto ad rules from April 23, requiring licensed firms and clearer disclosures for ads.
- The move aims to boost security and transparency but may burden smaller crypto players with compliance costs.
- Affected EU nations face dual MiCA and national ad regulations; Google will require dual certification for advertisers.
Google will enforce EU MiCA-compliant crypto ad rules across Europe effective from April 23. This means that only registered and licensed crypto firms can run ads. These ads must implement clearer disclosures and follow regional rules, thus bringing a complete overhaul for crypto advertising in the European Union.
Crypto exchanges and wallets will now have to obtain official licenses. Proponents of this move believe this will ramp up security, build trust, and push toward a more regulated and transparent digital market.
As market observers speculate on the decision, others ponder over the cost-benefit implications. Some even are call it a double-edged sword. While a section suggest it could prevent scams and unregulated projects, others feel it could drive away small players who cant afford to meet compliance costs. Additionally, this could also lead to temporary enforcement gaps across jurisdictions.
Many countries, like Italy, France, Germany, Spain, and all other EU member states, would be likely affected. Google will require advertisers of crypto-assets in the EU to obtain certification under the Markets in Crypto-Assets (MiCA) regulation and comply with additional national regulations, requiring dual certification for their ads.
Googles Regulatory Scrutiny, EU Crypto Ads and South Koreas Exchange Ban
Industry players like Bitget hailed the move, calling it a useful step, but urged more flexibility and less red tape. This is not the first time Google has come under scrutiny from regulators.
In March, South Koreas Financial Intelligence Unit (FIU) imposed new restrictions on 17 foreign crypto exchanges through Google Play. After the FIU pressure, Google immediately blocked access to the unregistered platforms for domestic users. The action went into effect by March 25, 2025, preventing any installations and updates of specific apps.
As reported by TronWeekly, this was due to violations of the Specific Financial Transaction Information Reporting and Use Act. Under the law, all foreign virtual asset service providers (VASPs) are required to register before operating in South Korea. Buying and selling cryptocurrencies in an exchange that does not comply can result in fines and even criminal penalties.
Read more: https://www.tronweekly.com/google-small-new-eu-policy/
Text source: TronWeekly
