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TikTok announced to ban crypto advertisements

Updated: Feb 4, 2025
Published: Jul 10, 2021
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TikTok announced Friday that certain types of advertising would no longer be allowed on its platform. Crypto-based content was one of the now-banned topics.

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 TikTok has been a popular platform to promote cryptocurrencies

The new guidelines on the social video posting site do not allow users to post promotional content about financial products.

 TikTok has been a popular platform for influencers to promote cryptocurrencies or create content around certain coins. For example, a TikTok post led to a spike in the price of Dogecoin (DOGE).

 The ability to advertise on TikTok is still an option for some users. The real problem is that influencers get paid by crypto companies to promote their coin or platform to its often young fans.  

 The main reason for concern is that young investors, who don't know any better, can get caught up in these get-rich-quick schemes and end up losing their money.

The platform wanted to help users to be alert for financial misinformation

TikTok teamed up with Citizens Advice to roll out videos focused on making the right financial decisions last month.

 TikTok said it wanted to help users become confident and alert to financial misinformation and how they can access the proper support and advice.

 It is unclear whether TikTok’s ban applies to all financial product discussions or just promotional activities.

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