Crypto Ads Ban Comes to MailChimp after Social Media Embargo
Cryptovest
Published Apr 02, 2018 08:56AM ET
Crypto Ads Ban Comes to MailChimp after Social Media Embargo
Another door has closed for cryptocurrency ads.
Automated email service MailChimp has joined the ranks of Facebook (NASDAQ:FB), Google (NASDAQ:GOOGL), and Twitter by banning all forms of advertisements about cryptocurrencies and initial coin offerings (ICOs). The move is as part of a sweeping crackdown on fraud and other illegal activities involving digital assets.
MailChimp has published its new advertising policy, saying the following in the section titled “Prohibited Content":
“We cannot allow businesses involved in any aspect of the sale, transaction, exchange, storage, marketing or production of cryptocurrencies, virtual currencies, and any digital assets related to an Initial Coin Offering, to use MailChimp to facilitate or support any of those activities.”
MailChimp explained that its community must work together as the “actions individual members take can have a big impact on our system as a whole."
h2 List of prohibited activities/h2”We may also suspend or terminate accounts according to our Terms of Use where we see behavior, content, or other factors that pose a threat to our system," the policy states further.
Analyst of Finance listed the following as prohibited by MailChimp: cryptocurrency sales, cryptocurrency storage, cryptocurrency exchanges, cryptocurrency marketing, cryptocurrency transactions, ICOs, cryptocurrency production, digital assets related to cryptocurrencies, and virtual currencies.
In an email sent to its customers, MailChimp said the large volume of misleading and fraudulent cryptocurrency advertisements promoted through its platform was the primary reason for the ban.
h2 Social media giants gang up on crypto ads/h2The move by MailChimp follows earlier decisions by Internet giants Facebook, Google, and Twitter to ban crypto-related ads.
A spokesperson for Twitter stated last month:
“We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”
Also last month, Google announced it would pull the plug on crypto-related ads as of June to protect the public from unregulated and high-risk financial products.
In January, Facebook became the first social media platform to stop allowing virtual currency ads.
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.