Cryptocurrency related ads are no longer allowed on TikTok
Leading social media platform TikTok announced that certain types of ads, including crypto in the list, would no longer be allowed on their platform.
According to the announcement by FT adviser, TikTok has banned promotional content including crypto-based ads among the now-verboten topics.
The new guidelines on the social video sharing site will specifically inhibit users from posting promotional content about financial products, regardless of the poster’s geographic location.
“According to TikTok’s branded content policy, the promotion of all financial services and products is now globally prohibited,” the announcement reads.
In the 2020 crypto-hype, TikTok was a hotbed for Dogecoin when users shared videos in an effort to get more folks to jump on the market.
Other social media sites have also hosted notable financial markets discussion in recent months, with stock discussions on Reddit (r/WSB) becoming prominent as well.
However, It is uncertain that if TikTok’s ban applies to all financial product discussions or just those which are promotional in nature.
Back in 2018, Google banned crypto advertisements, although it did remove part of that ban this year for some entities, pending certain legal requirements and to follow the regulations.