Cointelegraph
Brayden Lindrea
Written by Brayden Lindrea,Staff Writer
Jesse Coghlan
Reviewed by Jesse Coghlan,Staff Editor

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.

X to label paid promotions but prohibits crypto promos in EU, UK
News

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 involve a third-party brand compensating or incentivizing a user, such as an influencer or content creator, to promote their product or service. Users can also flag content as a paid partnership with X.

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.

X to roll out new features in coming months

The platform’s owner, Elon Musk, said on Feb. 11 that its planned payments system, X Money, is scheduled to come out as a “limited beta” in the next two months before it will launch to X users worldwide. 

Related: Musk's xAI seeks crypto expert to train AI on market analysis

X Money is part of Musk’s “everything app” plan for X, which aims to offer social networking, messaging, and financial services, similar to China’s WeChat.

It still isn’t clear whether crypto will be integrated into X Money.

On Feb. 14, Bier said X would also launch a Smart Cashtags feature to allow users to trade stocks and crypto directly on the platform.

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