A Advertising Standards Authority (ASA), the UK advertising regulator, is intensifying its focus on crypto advertising and plans to provide guidance and avoid counterfeit advertising.
A spokesman for the authority told The Black that it “plans to implement effective monitoring and compulsory measures in crypto advertising, as well as receive more guidance in the coming weeks.”
“In addition to ongoing investigations into the promotion of social influence, we are also considering whether further action is needed. cryptocurrencies”, The spokesman said.
The news comes a month after ASA forced a crypto broker The moon a Change your ads on London bus and pipeline stations This encouraged users to buy Bitcoin (P.D.C.).
– Bitcoins London (it Bitcoins London) December 21, 2020
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“Cryptocurrency advertising is a top priority for us. We recognize the importance of the role we currently play in regulating advertising to ensure that consumers are not misled about the risks of these products and that they are not irresponsible in promoting them, ”an ASA spokesman said.
“Cryptocurrencies have exploded in recent days, but there is a real risk that more people will be attracted to investing their life savings and then losing them based on little understanding.”
However, the spokesman added that there was a “clear difference” between ads for legitimate investments in crypto and ads considered “fraudulent”.
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