The Google research giant will not allow the exchanges of cryptocurrency and software portfolios to advertise in the European Union as if they have a license under the EU market regulations in Crypto-Asets (Mica), from April 23, the company announced on Monday.
Google said advertisers must now obtain certification from the company and demonstrate that they are registered as a Crypto-Set (CASP) service provider under Mica. The company also requires that advertisers comply with any additional legal obligation specific to the country.
Mica which covers the 27 EU member states, marks a distance from the patchwork of national license regimes which currently govern cryptographic advertisements in certain regions.
For cryptographic platforms which already advertise in France, Germany and Finland under local rules, Google has widened a temporary stay. These national licenses will remain valid until the mid-2025, aligning with the mica transition period of each country.
The technology giant said that the accounts will not be suspended immediately for non-compliance. Instead, he will issue a warning at least seven days before any application action.
Currently, several exchanges of cryptocurrency have obtained a Mica license, notably OKX, Crypto.com, Bitpanda, Boerse Stuttgart Digital, Etoro and others.
