TikTok Blocks All Crypto Related Content! - Kakiforex.com - Financial Market Media No. 1 in the World TikTok Blocks All Crypto Related Content! TikTok Blocks All Crypto Related Content!
InstaForex

July 13, 2021

TikTok Blocks All Crypto Related Content!

 Don't be surprised if after this you no longer find crypto content on the social platform, TikTok because all content and financial services including crypto have been completely blocked.


The restrictions are based on a renewed policy, ‘Financial Services and Products’ which covers all types of financial services and products including loans, asset management, forex, trading platforms, investment services, pyramid schemes, credit cards and cryptocurrencies.


The TikTok firm also blocks any crypto -related advertisements in most countries including the United States (US) and the United Kingdom (UK). While in South Korea, cryptocurrency advisory services are banned altogether.


"Ads promoting virtual currencies/cryptocurrencies (such as bitcoin and ethereum), including cryptocurrency trading platforms and cryptocurrency advisory services are prohibited."



However, advertising from financial services firms is still allowed for consumers aged 18 and above.


What is the main cause of these restrictions is that some influencers are paid to shill some coins, exchanges, dApps or certain crypto -related products.


"We see content like this on TikTok coming from those who don't have the relevant knowledge and attract followers with the promise of get rich quick, when in fact they make money through affiliate links," said Infomed Choice's head of client education, Martin Bamford.


The decision taken is none other than to protect the finances of young and naive consumers who are seen to be easily trapped by attractive and unsecured offers.