TikTok for Younger Users

TikTok Bans Paid Promotions of Crypto and Forex Trading Products

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TikTok, video-sharing social media platform, has recently updated its branded content policy to prohibit users from posting any promotional content on crypto-currency and forex trading products on its platform.

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According to TikTok’s Branded Content Policy, all financial services and products are prohibited, including but not limited to lending and management of money assets, loans and credit cards, buy now pay later (BNPL) services, trading platforms, cryptocurrency, foreign exchange, debit and pre-payment cards, forex trading, commemorative coins, pyramid schemes (including non-financial services),investment services, credit repair services, bail bonds, debt assistance programmes, get rich quick schemes, debt consolidation services and penny auctions.

According to TikTok, a branded content is content where you will receive (or have already received) something of value from a third party such as a brand in exchange for your post, to promote that brand’s products or service, or which you may otherwise need to disclose in accordance with your local laws or regulations. It could be a brand endorsement, partnership or other kind of promotion for a product or service.

“Creators and their partners on TikTok are responsible for their branded content complying with all applicable laws and established regulations.” – the ByteDance-owned social media company said.

According to financemagnates.com, the latest entry of crypto and forex trading services in the prohibited braided content list came as retail trading demand skyrocketed recently. TikTok has been flooded with investment-related content lately, which is being posted with the hashtag ‘#investing’ and reportedly received over 2.8 billion views.

In addition to complying with community guidelines, you need to follow TikTok’s branded content policies. It must be clear from your branded post what product or service you are promoting, without requiring users to access your profile page or additional links.

Image Courtesy: Supplied

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