TikTok is banning all promotional content related to cryptocurrencies on its platform in an effort to create a safer and more positive environment for its users.
In an updated version of its branded content policy, TikTok says it is prohibiting content that promotes financial products and services, including crypto.
The policy update also involves content relating to loans, credit cards, forex trading and investment services.
The ban comes a few months after the UK’s Financial Conduct Authority (FCA) issued a warning that young investors are engaging in high-risk investments in cryptocurrencies and foreign exchange. Nearly 50% of TikTok users are 29 years old or younger.