First Facebook, then Google and Twitter, and now MailChimp. All these online companies have made a decision this year to put an end to almost all forms of cryptocurrency advertising on their platforms.
MailChimp, an automated email company, posted its new terms of service yesterday (March 29), which outlined its policies for promotional advertising pertaining to Initial Coin Offerings (ICOs), as well as cryptocurrency activities in general.
Basically, MailChimp has decided to remove and prohibit any form of cryptocurrency advertising from its emailing services.
Advertisers wanting to use Mailchimp to advertise cryptocurrency activities will not be allowed to do so under the company’s new prohibited content policies, which can now be found under the “Prohibited Content” section of its acceptable use policy.
The following list details which forms of cryptocurrency advertising is now deemed prohibited content under MailChimp’s new Terms of Services:
Initial Coin Offerings
Digital Assets Related To Cryptocurrencies
Reason For The Ban
According to a recent email sent to a MailChimp customer, the company stated that its main reason for banning all forms of cryptocurrency advertising was due to a large number of fraudulent and misleading advertisements related to digital currencies being promoted through its services.
MailChimp also stated that it wanted to keep its users safe from deceptive advertising related to cryptocurrencies. Facebook, Google, and Twitter have also stated that their cryptocurrency advertising policies were also set in place to protect its users from being scammed and mislead by similar cryptocurrency promotions.
Mailchimp’s new policy is expected to go into effect by April 30th of this year (2018).
Join The Club
As was mentioned above, Mailchimp is not the first to ban such forms of advertising from its platform this year, as most of the major online companies who sell advertising space on their sites have also initiated the fight to clean up their platforms from unscrupulous advertisers looking to profit from the recent cryptocurrency boom.
On January 30, Facebook began their cryptocurrency advertising ban of cryptocurrency-related promotions along with other financial instruments known to have a large number of misleading messages like binary options.
At the beginning of March, Google stated that it will also begin to restructure its advertising policies regarding financial products that often promote false information and deception. Cryptocurrencies were on the list of the financial products they are targeting. It is expected that the company will update its advertising policies by June of this year.
Twitter followed suit on March 27, when it too decided to remove a couple of cryptocurrency-related advertisements from its platform. The company’s new policies state that any advertisement relating to ICOs and Token Sales will not be allowed on its site. However, Twitter will allow cryptocurrency exchanges and wallet services that are publicly-listed on major stock exchanges to continue to promote their products and services.