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Mailchimp, email-based advertising platform, has added to the list of social media platforms to ban cryptocurrency related advertising. The ban will come into force on April, 30.
Email marketing service Mailchimp will reportedly bar marketing campaigns for cryptocurrencies and initial coin offerings starting next month.
According to Mailchimp, it will no longer allow its service to be used for crypto campaigns because they are “too frequently associated with scams, fraud, phishing, and potentially misleading business practices.” At the same time, the company points out that cryptocurrency-related information is not necessarily prohibited.
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. Our Acceptable Use Policy goes into more detail: https://t.co/JnHajBEUNk
— Intuit Mailchimp (@Mailchimp) March 29, 2018
Mailchimp is the world’s largest marketing automation platform which integrates with all the major e-commerce providers so you can use your purchase data to send personalized campaigns and better understand how your marketing affects your bottom line. Set up in 2001, the company started as a side project funded by various web-development jobs, and now Mailchimp sends more than a billion emails a day.
“We made this decision to update our Acceptable Use Policy in order to protect the millions of businesses that use MailChimp for their marketing,” the company said. MailChimp also made a point that they “recognize blockchain technology is in its infancy and has tremendous potential.”
The prohibition is reflected in the firm’s acceptable use policy which states: “…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.”
“As an email service provider, we feel it’s our responsibility to be extra vigilant about preventing spam-related abuse. It’s also in our best interest to keep the system clean, because our reputation and deliverability depend on it. For that reason we provide, and may update from time to time, articles outlining sending best practices in our knowledge base. For example, we offer guidelines about list permission and best practices,” acceptable use policy reads. “You may only use MailChimp in accordance with these best practices, and we may suspend or terminate your account if you violate them.”
The ban on crypto campaigns will come into effect on April, 30.
The first social media platform to bar cryptocurrency adds was Facebook which imposed an official ban on promoting cryptocurrencies and ICOs at the end of January this year. Twitter followed suit, announcing that it would “be cutting out advertising of initial coin offerings and their token sales as well as global cryptocurrency wallet platforms if they are not publicly listed on select stock exchanges.”
Google also began purging cryptocurrency-related advertisements and announced its plans to ban them, but in case of the search giant, the policy change won’t take effect until June.