Dogecoin brief: Tiktok bans Elon Musk’s updates

There have been a number of significant Dogecoin-related incidents over the past week. From preferred investment choices to the TikTok ban, let’s take a look at the most important events to get to the news. 

Dogecoin Is One Of The Most Favoured Investments For Young Britons 
The survey for the Interactive Investor investment platform contains interesting information about cryptocurrency, especially about dogecoin. According to the survey, 45% of people aged 18-29 chose crypto Sundays to make their first investment. 

While Bitcoin is the most popular digital asset, 20% of the age group use crypto, Dogecoin is also one of the most popular cryptocurrencies in the 18 to 19 age group, and a significant proportion of novice investors invest their money in crypto. 

However, the other side of the survey also noted that 56% of respondents took the blame for being able to buy cryptocurrencies. 

TikTok Bans Paid Crypto Shares 
Social media giant TikTok has updated its”branded content policy.””The updated policy prohibits platform users from participating in paid promotion of financial services. This includes cryptocurrencies such as bitcoin and Dogecoin. 

New rules say clearly::, 

“All financial services and products, cash loans and Assets Management, loans and credit cards, buy Now Pay Later (BNP) services, trading platforms, crypto currency, including, but not limited to, is prohibited.”

Ambiguous Rules 
So far, it is still unclear how the new rules will affect the unpaid promotion of cryptocurrencies and other financial products. Martin Bamford, director of customer training at conscious choice, believes TikTok is sticking to the sponsored content that led to the affiliate link. He also said it was not clear how these new rules would affect regulated companies and those already present on the platform. 


Join the Discussion

  • BrokerEUR/USD
    LCG 0.3pips (variable) margin: 3.33%
  • Back to top