TikTok's New Policy Bans Cryptocurrency Ads

TikTok's new policy bans cryptocurrency ads. TikTok will no longer have ads with financial content on its platform.

Social video sharing platform TikTok has announced its new advertising policy. The new policy also includes a ban on cryptocurrency ads. According to the statement made by FT Adviser, TikTok will no longer have ads with financial content, including cryptocurrencies, on its platform. With TikTok's new advertising policy, users will no longer be allowed to promote and advertise any financial product, regardless of their geological location.

“According to TikTok's branded content policy, the promotion of all financial services and products is now prohibited globally.”

TikTok's Purpose Is To End Making Money With Referral Links

TikTok has come to the fore as a platform that accelerates the rise of cryptocurrencies such as Dogecoin (DOGE), which started to shine in 2021, giving them a chance to rise. It is undeniable that social networking platforms such as Reddit also pioneered this rise. But everyone agrees that TikTok also attracts the attention of young people. Martin Bamford, head of customer education at Informed Choice, evaluated TikTok's new advertising policy. Bamford said that TikTok is trying to stop users who directly or indirectly make money with reference links to exchanges. Bamford said: “We see that brand promotion content is quite common on TikTok. Usually poorly informed people attract followers with the promise of wealth. But in reality, they make their money from people who sign up from the given referral link.” In 2018, Google similarly banned the ads of the cryptocurrency ecosystem. In 2021, the ban was lifted only after certain criteria were met.