Crypto: X To Label Paid Promotions But Prohibits Crypto Promos In Eu, Uk
X head of product, Nikita Bier, says the paid promotions tag aims to encourage people to build their businesses on X while being transparent with their fan base.
Social media platform X is now permitting paid promotional crypto posts under its updated labeling policy, though crypto advertisements will continue to be banned in several key markets, including the UK and European Union.
X lifted its ban on crypto and gambling promotions on Sunday, enabling industry influencers to monetize crypto content, provided they comply with the platform’s new paid partnership framework.
However, crypto influencers will be responsible for ensuring that partnerships are blocked or not visible in the European Union, the UK and Australia, regions with strict financial promotion laws that represent a sizable share of global crypto activity.
X, formerly Twitter, has long been the go-to platform for crypto companies, projects and communities to communicate.
X’s head of product, Nikita Bier, said the feature aims to encourage people to build their businesses on X while ensuring they are transparent with their followers.
X said that partnerships are the involvement of a third-party brand providing compensation or incentives to a user, such as an influencer or content creator, to promote their product or service. Users can also flag content as a paid partnership to X.
Today we're announcing Paid Partnership labels on posts. X's core value is providing on authentic pulse on humanity.While we want to encourage people to build their businesses on X, undisclosed promotions hurt the integrity of the product and lead people to distrust the content… pic.twitter.com/CmrRDx5tU1
While the platform’s ban on sponsored crypto posts has been lifted, the updated exclusion list continues to bar promotions for sex products and services, alcohol, dating platforms, recreational and prescription drugs, health and wellness supplements, tobacco, and weapons.
Content related to politics and social issues is also prohibited when used for commercial purposes.
Source: CoinTelegraph
