Crypto influencers will no longer be allowed to promote crypto projects on TikTok after the popular social network released new guidelines on Friday.
TikTok Bans Crypto Ads
Updating its Brand Content Policy, TikTok noted that all the following forms of financial services and products are now banned from the social media platform: cryptocurrencies, trading platforms, pyramid schemes, “get rich quick” schemes, credit cards, loans, and some others.
According to recent reports, most of the victims of these high-risk investments and get-rich quick schemes being promoted on TikTok are young people and the United Kingdom Financial Conduct Authority (FCA) recently voiced concern over the worrying trend.
Curbing Financial Scams
TikTok claims the move is to end the increasing rate of crypto-related and other investment scams and schemes promoted on the social network. However, the outright ban will also affect legitimate financial-related firms that use the platform to promote their products
Źródło: https://cryptopotato.com/tiktok-bans-cryptocurrency-related-ads/
