Cryptocurrency ads drop-out keeps increasing as mailchimp joined other major social media by announcing a ban on all cryptocurrency-related advertisements.
Mailchimp is an automated email service they’ve joined the likes of facebook, google, and twitter by banning all forms of advertisement about cryptocurrencies and initial coin offerings (ICOs), the move is not in anyway different from the same reason given by all other major social network, sweeping crackdown on fraud and other illegal activities involving digital assets.
According to mailchimp Any business involved in sale, transaction, exchange, storage, marketing or production of cryptocurrencies, virtual currencies, and any digital assets related to an initial coin offering will be stooped to use mailchimp to facilitate or support any of those activities.
Mailchimp states further that any account that portray a behavior,content or other factor that pose a threat to our system, will be suspended or terminated.
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.
Mailchimp said in an email sent to their customers that the high volume of misleading and fraudulent cryptos ads promoted through its platform was the major reason for the ban.
In January, Facebook became the first social media platform to stop allowing virtual currency ads.
Facebook becomes the first social media platform to ban virtual currency, google also announce its ban on cryptos ads last month stating that they have to protect the public from unregulated and high-risk financial products, twitter also follow suit a spokesperson for twitter stated.
“we want to ensure the safety of twitter community. Thereby weve added a new policy for twitter ads relating to cryptocurrency. Under this policy, the advertisement of initial coin offerings (ICOs) and token sales will be prohibited globally.”