TikTok bans influencers from promoting cryptocurrencies
The new content policy indicates that videos about cryptocurrencies, loan companies, credit cards, Forex companies, among other things, will no longer be able to be published.
The new brand content policy of the mega popular application ByteDance indicates that videos about cryptocurrencies, loan companies, credit cards, Forex companies, among other things, will no longer be able to be published.
Why does TikTok prohibit Influencers from promoting cryptocurrencies?
According to the Merca2.0 portal, the reason for this new policy on TikTok is due to a desire to stop the high-risk investments promoted on the platform and thus also remove the spread of pyramid schemes or fraud.
This will force established financial companies that use influencers in their marketing strategy to rethink their strategy.
Despite these changes, TikTok's advertising policy will remain the same, allowing financial services companies to advertise to people over 18 years of age.
As the Bitcoinist site mentions, despite any regulation, TikTok has become a growing financial information tool for young consumers with so-called "FinTok" or "StockTok" corners.