AIBC

TikTok bans all crypto-related content

Posted:: Jul 13, 2021 10:17 Category: Blockchain , Crypto , Regulatory , Posted by Kevin

After reviewing its branded content policy, TikTok has decided to ban all content promoting high risk investments, including crypto assets

TikTok The days of crypto influencers on TikTok are over, after a branded content policy update of the social media giant announced the global prohibition of content promoting financial investments on the platform. This includes all promotional crypto-related content.

A detailed enumeration of all affected topics notably includes the promotion of loans and credit cards:

All financial services and products are prohibited, including but not limited to lending and management of money assets, loans and credit cards, buy now pay later (BNPL) services, trading platforms, cryptocurrency, foreign exchange, debit and pre-payment cards, forex trading, commemorative coins, pyramid schemes (including non-financial services), investment services, credit repair services, bail bonds, debt assistance programs, get rich quick schemes, debt consolidation services and penny auctions.

The decision comes in reaction to a UK study revealing a massive surge in high-risk investments among younger people, who might be vulnerable to financial hardships. Nearly two thirds of the age group below 30 claims that investment losses would heavily impact their lifestyle.

Precisely this age group makes up most of TikTok’s user base, demanding responsible content guidelines, that have already encompassed several inappropriate domains for younger viewers such as gambling, alcohol and sexual content.

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