- TikTok bans certain types of promotional content on the platform.
- Crypto-based promotional content is on the list.
- The move is to prevent the spread of misinformation.
TikTok announces its latest decision about banning certain types of ads on its platform. Based on this decision, all crypto-related ads will no longer be able to make an appearance on TikTok.
In fact, the platform confirms a list of content that cannot be posted as ads anymore. Out of this, crypto-based promotional content made the cut.
In detail, the new TikTok guidelines specifically say
According to TikTok’s branded content policy, the promotion of all financial services and products is now globally prohibited. Hence, users on the platform can no longer make posts that will promote financial products or services.
This decision could be related to the fact that TikTok once influenced the crypto market. In particular, a TikTok post led to a spike in the price of Dogecoin (DOGE). A user on the platform specifies that the more people buy, the more the price will go up. Thus, the crypto got a huge pump.
Notably, other social media platforms have also contributed to controlled financial gains. For instance, the GameStop stock scenario that played out a few months ago. A few reddit users planned this incident in advance.
The client education head at Informed Choice, Martin Bamford, sees this move from TikTok as a way to clamp down on direct and indirect sponsored content. Most of these posts come with an affiliated link.
More so, Bamford highlights the fact that most of these posts come from poorly informed users. These users could simply be luring in followers with false promises of a quick fortune. However, the truth is that they could just be making money off their viewers instead.
Despite the announcement, the users are still unsure if the ban includes all financial types of videos or if it is only those that are promotional. All in all, it seems the platform is beginning to crack down on its content regulations.