NEWS ZAP
TikTok Is Banning Influencers From Promoting Cryptocurrencies
While the policy change does have some exemptions, the newly prohibited bucket of content is “Financial Services and Products”. This category includes, but certainly isn’t limited to, topics including crypto, loans and credit cards, trading platforms, forex trading, commemorative coins, investment services, and more.
However, TikTok’s advertising policy remains the same, which currently allows financial services companies to advertise to people over the age of 18. Despite this, ads for cryptos and digital assets specifically are already prohibited on the platform.
Despite any real means of regulation, TikTok has become a rising tool for financial information for young consumers. The financial corner of the platform, dubbed ‘FinTok’ or ‘StockTok’, is a massive blend of speculation, over-exaggeration, and actual financial insights or perspectives.
