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Starting April 23, Google will implement stricter advertising policies for cryptocurrency services in Europe, aligning with the European Union's Markets in Crypto-Assets (MiCA) framework.

Thanks to the new rules, the announcement reads that all advertisers promoting crypto exchanges and wallets will need to be licensed under MiCA or national-level Crypto Asset Service Provider (CASP) regulations .

According to Google's policy update for March 24, crypto advertisers were also required to get certified by Google and respect any other legal requirements in each EU country. The policy will apply to most EU member states, including Germany, France, Spain, Italy, and the Netherlands.

While the move is intended to eliminate fraud and improve consumer protection, some industry participants are taking a more complex view of the issue.

According to reports , Bitget's chief legal officer, Hon Ng, said that the update would help eliminate unregulated actors and prevent frauds such as those during the 2023 ICO boom before the industry took action.

Ng cautioned that strict enforcement could, however, create gaps in enforcement, allowing fraud to occur and placing compliance costs on small players.

The capital requirements of MiCA — anywhere from €15,000 to €150,000 — and the need for both Google and regulatory certification will be especially problematic for startup companies.

According to Mattan Erder, Orbs' general counsel, the policy is more about protecting Google from legal liability than about protecting investors. He also expects that MiCa, which comes into force in December 2024, will benefit only the biggest players, and smaller exchanges will find it hard to remain competitive.

However, violations would not result in immediate account suspension, as Google intends to give advertisers at least seven days to remedy any violations. The policy has survived the application of MiCA's much‐broader regulation of markets for crypto assets.