Close on the heels of major social media platforms banning cryptocurrency and Initial Coin offering (ICO) related advertising, email marketing platform MailChimp is starting to block cryptocurrency and ICO related campaigns.
MailChimp helps customers to create automations, targeted emails, and ad campaigns to personalize marketing. It is one of the top five email marketing platforms according to Inc.com.
The ban came into effect from March 29 when MailChimp updated its "Acceptable Use Policy" to include the necessary instructions.
In its "prohibited content list" MailChimp said, "Also, 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."
"If you violate this policy, we may suspend or terminate your account. We may also suspend or terminate accounts according to our Terms of Use where we see behavior, content, or other factors that poses a threat to our system," the list adds.
However, responding to a return tweet questioning the new policy, MailChimp said, "Cryptocurrency-related information isn't necessarily prohibited. It can be sent as long as the sender isn't involved in the production, sale, exchange, storage, or marketing of cryptocurrencies."
MailChimp's new ad policy comes at a time when several other social media giants such as Facebook, Google, Snapchat, Twitter also prohibited ads promoting cryptocurrencies and related content including ICOs, exchanges, and wallets since January.
The ban on ads aims to bridle scams fraud, phishing, and potentially misleading business practices.
Meanwhile, a newly founded Eurasian Blockchain Association or EBA, comprising Russian, Chinese and South Korean associations for cryptocurrency and Blockchain, is planning to file a lawsuit against the ongoing ban of cryptocurrency-related advertisements by social media giants.
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