Google is set to enforce strict new rules for cryptocurrency-related ads across Europe starting April 23, aligning with the EU’s Markets in Crypto-Assets (MiCA) regulation. The move requires that crypto exchanges and wallet services obtain licenses under MiCA or the Crypto Asset Service Provider (CASP) framework and receive Google certification. Advertisers must also comply with national laws beyond MiCA, depending on the country.

The new policy will apply to major EU nations including France, Germany, Italy, and Spain, among others. While violators won’t face immediate account suspension, Google will issue a warning at least seven days in advance before taking action.

The policy follows MiCA’s broader rollout in December 2024, which marked the EU’s first sweeping attempt to regulate digital assets. While some see the changes as a step toward weeding out fraud and protecting investors, others view the rules as overly rigid.

Bitget’s legal chief Hon Ng called the new rules a “double-edged sword.” While they enhance safety by filtering out unlicensed platforms, he warns they could burden smaller exchanges with heavy compliance costs, ranging from €15,000 to €150,000. These barriers may lead to enforcement gaps and hinder innovation.

Mattan Erder, general counsel at Orbs, suggested Google’s update is more about shielding itself from liability than protecting users. He added that if MiCA registration remains too complex or expensive, only major players will survive, leaving smaller startups out of the game.

As the crypto industry braces for these changes, many are left wondering whether regulation will protect investors or simply lock out innovation.