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UK’s advertising regulator clamps down on crypto ads under “red-alert priority”
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UK’s Advertising Standards Authority (ASA) recently noted that it aims to bring new guidance on cryptocurrency advertising. Meanwhile, BBC reported that the watchdog took down seven ads as “monitoring cryptoassets, like Bitcoin, is a ‘red-alert priority’…many ads fail to fully convey the risks of investing.”
With the new notification, ASA said that the ads were “banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment.”
Some of the banned promotions include a Facebook ad by Coinbase Europe, a paid-for display ad by trading platform eToro, and Papa John’s “free Bitcoin” promotion for BTC Pizza Day.
The report also noted that the pizza outlet argued that it refrained from
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