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.
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 are the involvement of a third-party brand providing compensation or incentives to a user, such as an influencer or content creator, to promote their product or service. Users can also flag content as a paid partnership to 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.
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 that aims to offer social networking, messaging and financial services, similar to China’s WeChat.
