MailChimp?s announcement also means it is the latest company to shun crypto ads on its platform. Major social media companies such as Facebook and Google among others have already banned ads related to cryptocurrency.
Despite the ban, the email distribution company will still allow senders to deal with cryptocurrency-related information as long as it does not involve the marketing, selling, or distribution of cryptocurrencies.
No more ads marketing crypto trading
The email distribution firm announced on March 29 through a tweet that it was planning to ban any cryptocurrency-related campaigns on its platform. The reason behind this move is that most crypto campaigns usually involve misleading practices and are even associated with scams. It is thus clear that MailChimp does not want any activities that might tarnish its platform.
MailChimp updated its legal policy and one of the added changes states that:?We cannot allow 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, to use MailChimp to facilitate or support any of those activities.?
The company plans to implement the new changes on April 30th and just like many of the social media companies that have walked the same path, the decision was aimed at protecting customers. MailChimp also made sure that it acknowledged the potential that Bitcoin has to offer.
What does this mean for users?
MailChimp?s announcement should definitely be a source of concern for those that have been relying on the service to spread their cryptocurrency-related ads. Players in the cryptocurrency sector are quickly running out of options for reaching their audiences especially with the likes of Google, Facebook, Twitter, and Snapchat. It also means the company is taking the necessary measures to make sure that audiences are not served with questionable content or content that is spam or promoting fraud.
It is quite commendable that companies are taking measures aimed at protecting those using their services or platforms by discouraging content that might be misleading or taking unfair advantage of customers. Meanwhile, there still remain a lot of questions pertaining the future of cryptocurrency especially the major coins such as Bitcoin, Litecoin, and Ethereum among others. Will they recover from their current slump or will they die a natural death?
The past few weeks have been characterized by news after news that has resulted in a negative outlook towards cryptocurrency. Such news has thus contributed to the tanking crypto prices and a lot of concern about the future of the entire crypto market in general. However, Mid-April seems to be looking up with Bitcoin recovering past $8,000.
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