MailChimp Prohibits Services to Promote Cryptocurrencies and ICOs

MailChimp also banned promoting of multi-level marketing and “make money online” businesses or others that have higher-than-average abuse. It joins Google, LinkedIn, Twitter, and Snapchat on a ban on ICO and crypto-related ads, and the country-wide bans in China and South Korea.  

MailChimp has updated, this week, their policy on promoting cryptocurrencies and ICOs related businesses through the service. And it is bad news’ day for businesses using or planning to use the service to promote their cryptocurrency deals.

The updated policy reads,

“[W]e 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”.

While it is unclear how many people were using the service to promote crypto and related businesses. It is certain that businesses have been sending emails to their customers using the service.

Nevertheless, they say they do not hate blockchain because it has “tremendous potential”. But they definitely hate some of the blockchain’s children–the cryptocurrencies. They say promoting cryptocurrencies is often associating with “scams, fraud, phishing, and potentially misleading business practices at this time.”

It sounds like an example of having a hacker inside a government department and then, furious, you shut down the entire department, forever!

However, the ban excludes journalists disseminating information about cryptocurrencies. However, so long as they are not involving in the “production, sale, exchange, storage, or marketing of cryptocurrencies”.

Banned multi-level marketing

MailChimp also prohibits clients from promoting the multi-level marketing, “make money online” businesses and those industries with higher-than-average abuse. It marked “online trading, day trading tips, or stock market-related content” as requiring additional scrutiny.

The update is in line with the recent bans by Facebook (and Instagram by extension), Google, LinkedIn, Twitter, and Snapchat on crypto businesses. It is to be put in mind that China and South Korea imposing a ban on such ads country-wide.

What do you think of MailChimp prohibiting promoting of cryptocurrencies through their platform? Find us on Twitter and Telegram to share your views. 

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David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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