Yes, but there are probably other standards that Google's ads don't meet, and Google isn't using those.

Like tracking of user data.

Is this sarcastic?

That's an industry body from big advertisers, like Google. I'm pretty sure "Don't store user data" isn't included in that "standard"

What we need is a Sarbanes-Oxley for the Internet. If you track users and store their data, you have to be Internet-SOX compliant to prove you're handling it in a responsible way. Especially with the anti-fraud protections on credit cards these days, storing PII and browsing history is a lot more dangerous than a credit card breach.

Or tech companies could put themselves under EU data protection law.