- TikTok has banned creators from publishing sponsored content related to cryptocurrencies and investing services.
- The social media app's branded content policy also bans the promotion of weapons, alcohol, and gambling.
- TikTok said the policy is "designed to ensure a safe and positive environment" for users.
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The Financial Times first reported last week that the social media platform had updated its branded content policy, which bans the promotion of industries like alcohol, weapons, and gambling, to include financial services on its list of prohibited content.
Tik Tok said its policy included but was not limited to cryptocurrency, trading platforms, investment services, get rick quick schemes, foreign exchange, debit and pre-payment cards, forex trading, and others. The social media platform is awash with financial content, with the hashtag "#investing" gaining over 2.8 billion views. The ban appears to only apply to sponsored content, not general videos discussing cryptocurrencies and investments.TikTok's ban comes as financial regulators warn investors to watch out for fraudulent investing advice and information. In December, the SEC said it experienced a significant uptick in tips, complaints, and referrals involving investment scams.
The social media platform said its branded content policy is "designed to ensure a safe and positive environment" for TikTok users.