Adding to the long list of marketing and social media platforms, mail.chimp has now decided that will suspend mailing accounts that are mass mailing about cryptocurrencies, ICOs and other crypto related products.
The decision follows the biggest platforms, namely Google, Facebook, Twitter and Linkedin also banning crypto related ads.
The new policy 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.”
The last two years have seen a huge spike in the formation of companies and launching of products through icos. As the ico crowdsale market is still largely unregulated, consumers are susceptible to fake ads or ponzi schemes that are run by malicious individuals seeking to take advantage of the lack of regulation. On the other hand, not all ICOs are bad, and the expanding ban is making it harder for ICO companies to market, or even educate the public about their product. Companies are taking to alternate platforms where the crypto community still shares information and promotions on a large scale, but with major platforms clamping down on ICO related marketing, the market will have to take stock of how this will affect token sales.