created:07-13-2021
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TikTok announced on Friday that it will no longer allow certain types of advertisements to appear on its platform. On July 8, according to an article by FT Adviser, the promotion of cryptocurrency is now included in the list of prohibited topics.

The new rules of this social video publishing site will explicitly prohibit users from publishing promotional content about financial products, regardless of the geographic location of the poster. The FT Adviser article wrote in detail: "According to TikTok's brand content policy, the platform now prohibits the promotion of all financial services and products worldwide."

In 2020, TikTok is a hotbed of Dogecoin hype. At that time, users shared related videos, hoping to let more people join the trend. In recent months, some eye-catching financial market discussions have also appeared on other social media sites, and stock discussions on Reddit have also become very prominent.

Martin Bamford, head of customer education at Informed Choice, told FT Adviser: "I think so, TikTok is cracking down on directly or indirectly sponsored content, which will lead to affiliate links, such as registering a trading platform and getting free stock," he Added:

"We see a lot of such branded content on TikTok, usually from uninformed commentators who use promises to get rich to attract fans, but they actually make money from people who sign up through affiliate links. "

It is unclear whether TikTok's ban is for all financial product discussions or just for promotion discussions. Google banned cryptocurrency advertising in 2018. Although it did lift some of the bans on some entities this year, certain requirements have not yet been decided.

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