Is banning cryptocurrency-related ads a trend now? Well, it sure seems so because we have another big company that joined Facebook, Google, and Twitter on prohibiting crypto ads. Recently, the fan-favorite email automation company, MailChimp, has decided that they don’t want any ICO-related advertisements on their platform.
The news comes after MailChimp updated their terms of service where they directly addressed cryptocurrency ads. They have decided to put them in the “prohibited content” section, effectively banning all advertisements that feature “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.”
They don’t want these businesses to use MailChimp “to facilitate or support any of those activities.”
Harsher policy than Twitter’s
So, what is the reasoning behind this decision? Well, MailChimp says that digital coins are too often associated with scams, frauds, and shady business practices. Therefore, to protect their customers from such things, they’ve decided to ban everything even mildly associated with them.
Interestingly, Twitter was the only platform to exclude some legitimate businesses from their cryptocurrency ads ban policy; they are not banning ads from public companies listed on stock markets.
However, this ban won’t have that big of an effect on Bitcoin casinos and gambling platforms because MailChimp already prohibits advertising gambling services. But it is a blow to the whole cryptocurrency industry.
Despite announcing it just a couple of days ago, MailChimp’s new advertising policy won’t come into effect until April 30th. This news couldn’t come at the worse time, as Bitcoin has hit the biggest low since February 7th. But we are sure that the cryptocurrency industry will bounce back, eventually.