TikTok, the online sensation that took the world by storm, updated its branded content policy, in a move against cryptocurrency and FX promotional content. No longer can users of the social platform post promotions of crypto derivatives or FX products.
The policy page of the platform clearly indicates the plethora of services and products which it has banned the promotion of:
- management and lending of money assets
- investment services
- credit card and loan promotions
- buy now, pay later services
- FX and CFD trading terminals
- pyramid schemes
The platform has also prohibited the promotion of cigarettes, gambling, weapons, and political-related content.
As a result of the crypto and FX trading boom, TikTok has been engulfed with crypto/FX investment promotions and other similar content. This content is accompanied by the hashtag #investing and has over 2.8 billion views in total.
Nevertheless, users will still be able to express their opinion on FX and crypto services. The ban is strictly concerned with promotional material.
As a result of the tightening of the rules, TikTok has removed over 72 million users in just a week for violating its guidelines.
TikTok is by far one of the most popular social media outlets, with over a billion users worldwide. Its origins can be traced to China, where is it known as Douyin.