TikTok Closes the Door to Forex and Cryptocurrency Promotion


July 14, 2021, | AtoZ MarketsThe popular video-sharing social networking company owned by ByteDance has changed its service promotion policy. The new changes have closed the possibility for cryptocurrencies and forex to promote their services on this platform.

However, the ban is only limited to branded content, and the platform will still allow content creators to post their personal views on the flagged services, including crypto and forex trading products.

For modifications to the Terms of Services that we need to make to meet security, safety, legal or regulatory requirements, we may not be able to notify you in advance but we will let you know as soon as practicable, noted TikTok.

The company also mentioned that:

“We have updated our Privacy Policy. Among other clarifying changes, we have added more details about the information we collect and how it’s used, including clarifications related to, for example, collection of user content information, use of data for verification, ad related choices, data sharing with third party services , and data storage / processing practices”.

What Was the Reason for This Decision?

This decision to change TikTok’s advertising policies was mainly due to the disproportionate increase related to this type of financial instrument. The social platform mentioned that by using the hashtag #investing, the company received over 2.8 billion views.

Currently, TikTok is considered one of the most used social platforms worldwide and has applications in more than 150 countries. The number of users it handles is nearly one billion worldwide, while its Chinese version has 689 million users on the Asian country.

Read the notice : TikTok Bans Influencers from Advertising Cryptocurrencies

Meanwhile, with a significant young-aged user base, TikTok has recently started to tighten its control over the published content and removed almost 72 million videos last week for violation of its community guidelines.

Google Has Also Made Changes to Its Policies

Remember, that there are already several large global corporations that have been forced to limit this advertising, including Google as one of them.

In an official statement released by Google, the internet search giant is changing its advertising policies for crypto exchanges and crypto wallets.

This type of decision makes it very clear that the big companies are trying to protect their users from the large amount of false and fraudulent information that is circulating on the Internet these days.

If we talk about advertising, in Google, the average prices are from $ 0.63 per click to $ 2.69 per click. Meanwhile, in social networks, the initial prices can go from $ 0.72 per click (Instagram) or from one dollar per day (Facebook). For its part, ads on TikTok start at $ 10 per CPM (cost per 1000 views). Also, you need to spend a minimum of $ 500 on a campaign.

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