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Email marketing service firm Mailchimp says goodbye to Crypto companies

After social media platforms banned advertisements for ICOs and other cryptocurrency related companies, email marketing service provider Mailchimp has said goodbye to these companies as well. In fact, the platform has gone a step further by blocking all emails that relate to cryptocurrencies in any way, even if they are plain newsletters in the practices. The users are freaking out, taking to twitter to show their discontent. It looks likely that the full extent of the ban hasn’t been realized yet.

What happened at Mailchimp?

The service provider enacted changes to its Acceptable Use policy. The policy now stats that the company does not 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.”

Mailchimp has said that they do not want people making money on blockchains, especially ICOs to be related to their platform. They have also said that they do not mind users that talk about these two industries.

A representative, while talking to Futurism, said, “The promotion and exchange of cryptocurrencies is too frequently associated with scams, fraud, phishing, and potentially misleading business practices at this time. It’s important to note that this update to our policy does not prevent the discussion of related topics in messages sent through our platform. For example, journalists and publications may send cryptocurrency-related information as long as they’re not involved in the production, sale, exchange, storage, or marketing of cryptocurrencies.”

At the same time, the company says, “We recognize that blockchain technology is in its infancy and has tremendous potential.”

What is Mailchimp up to?

Positive remarks and strict actions don’t go hand in hand, especially when you are talking about cryptocurrencies. Even though the company maintains that it will not shut down accounts of books, papers etc. that merely spread cryptocurrency info, users are crying foul. Industry events, company announcements etc. related to the sector which are not involved in direct sales and profiteering from crypto are being banned as well.

One such user commented on Twitter, “So @MailChimp is closing the Week In Ethereum account in four weeks because they hate blockchains. Centralized capricious power is exactly why we need blockchains.”

The company responded to Futurism, “We’re looking into this particular account, but if an account holder believes there’s been a mistake, they are encouraged to reach out to with the details, and MailChimp’s Legal team will take a closer look.”

Mailchimp is following the lead of Facebook and Google, who have already banned cryptocurrency ads, especially those pertaining to ICOs from their platform. Twitter also rolled out the ban, excusing licensed exchanges. This week, LinkedIn reportedly filtered out similar content in the crypto space. Organizations are doing this to avoid involvement in any troubles as they don’t want to be associated with scams and frauds.

The Mailchimp ban will go into effect on April 30th, by when most user accounts related to cryptos will be closed.