China’s New Rules Ban Crypto Promotion and Tighten Online Finance Ads

TLDR

• China bans crypto promotion in sweeping online finance ad crackdown
• China limits financial marketing to licensed firms and approved platforms
• China targets influencers and platforms in new finance ad rules
• China expands crypto ban by restricting online financial promotions
• China enforces strict controls on digital finance ads and content creators

China has finalized new rules that restrict online financial marketing and ban crypto promotion across digital channels. The measures expand existing bans and target platforms, intermediaries, and content creators facilitating illegal finance. China strengthens oversight of online finance advertising ahead of a September 30 implementation deadline.

China Tightens Digital Finance Marketing Controls

China released the “Administrative Measures for Online Marketing of Financial Products” under multiple regulators led by the People’s Bank of China. The framework limits online financial promotion to licensed institutions and approved third-party platforms.  China prohibits any entity from assisting or enabling illegal financial marketing activities.

The rules explicitly classify virtual currency issuance and trading as illegal financial activity within marketing contexts. Therefore, China reinforces its 2021 stance that banned all domestic crypto transactions. Additionally, China includes illegal foreign exchange margin trading within the same restricted category.

China states that only authorized financial institutions may conduct digital promotions within approved business scopes. Meanwhile, third-party platforms must operate under formal entrustment and cannot subcontract marketing services. As a result, China imposes strict accountability across the entire online finance promotion chain.

China Targets Platforms, Influencers, and Content Practices

China expands oversight to include livestreams, short videos, and algorithm-driven promotion tools used in financial advertising. The rules require verified content approval from financial institutions before any public dissemination. China increases liability risks for platforms and creators who fail to comply.

The framework bans misleading claims such as guaranteed returns or exaggerated benefits in financial promotions. China restricts algorithmic targeting that encourages excessive consumption or risky behavior. Platforms must also provide clear opt-out options for marketing messages and algorithm recommendations.

China mandates that marketing personnel must operate through official institutional accounts with verified qualifications. In addition, platforms must display licensing details and verify the identity of financial promoters. Therefore, China ensures traceability and compliance across digital marketing channels.

Global Regulators Mirror China’s Crackdown on Finfluencers

China’s approach aligns with growing international scrutiny of financial influencers and online promotion practices. The Financial Conduct Authority coordinated enforcement actions with 17 regulators targeting illegal financial promotions. These actions resulted in criminal proceedings, warning alerts, and content takedowns across platforms.

In Europe, the European Securities and Markets Authority reinforced rules covering crypto promotion and investment recommendations on social media. Australia’s Australian Securities and Investments Commission warned about reliance on online content for financial decisions. These steps show a coordinated global shift toward stricter digital finance oversight.

China’s new framework adds pressure by extending enforcement into the marketing layer of financial services. It complements earlier bans on crypto trading platforms, mining, and institutional involvement. Consequently, China continues to push digital financial activity outside its regulated domestic system.

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