TikTok is updating its branded content policy with new guidelines on the type of advertisements and sponsored posts allowed on the platform globally.
TikTok’s new policies seek to eradicate posts and promotions related to cryptocurrencies and financial services that may lead to reckless actions or fall prey to scams.
TikTok no longer allows advertisements and sponsorships related to cryptocurrencies
TikTok no longer allows content creators or influencers to promote anything related to cryptocurrencies, currencies, financial services, pyramid schemes, asset management, investment services, among others.
This measure by TikTok seeks to protect young people from misleading financial information or being driven to make risky decisions based on the sponsored content they find on the platform in the hands of their favorite influencers.
And of course, this measure will also prevent fraudulent financial practices from being promoted on the platform, which seeks out unwary users to join “trials” or affiliate schemes.
A measure that is complemented by another TikTok strategy by partnering with Citizens Advice. Through this partnership, it is creating a series of videos on financial education. The videos will familiarize users with financial terminology, how to make the most of research before taking any action and how to spot financial misinformation on the internet.
It will serve as an awareness and financial education campaign for them to make informed decisions and not be fooled by the frauds that abound on the Internet. So these new measures will help young TikTok users to stay away from those advertisements, which promise “unique financial opportunities”, or sponsorships that use influencers to encourage them to take part in high-risk investments.
