TikTok ban on the promotion of cryptocurrency ads on its platform

TikTok recently announced the update of its commercial promotion policy. In this update, TikTok will include cryptocurrency-related content into the scope of the prohibition of promotion.

At present, investors in the cryptocurrency market are mainly young people. Young people are relatively more likely to accept new things. Most TikTok users are young people.

Therefore, it is indeed a very good way to promote the cryptocurrency on TikTok. Until now, the platform has announced that it is banning the promotion of such content on a global scale.

ByteDance did not explain the reasons for banning cryptocurrency promotion. In fact, companies such as Google and Twitter have also banned cryptocurrency-related advertisements.

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When ByteDance did not block cryptocurrency-related advertisements, TikTok was accused of having a large number of speculative and over-exaggerated financial insights.

Some of these financial insights are purposeful and some are spontaneous, but many are published by non-professional users and may mislead other users.

The content related to cryptocurrency in these financial insights is more exaggerated, especially the short videos related to Dogecoin supported by Elon Musk.

Therefore, it is reasonable to ban advertisements related to cryptocurrency. After all, such advertisements are mainly targeted at retail investors in those currency circles.

But the ByteDance ban is only for commercial promotion, and ordinary users can continue to publish content related to those cryptocurrencies, even if they may be exaggerated.

It is not just cryptocurrency advertisements that are banned. In fact, ByteDance also bans advertisements for loans and credit cards, foreign exchange transactions, and commemorative coins.

The exempted ones are financial service providers, which can promote financial services to users over the age of 18. The promotion of such services is still allowed at least for now.

Via: dailymail