UK’s advertisement watchdog called Advertising Standards Authority (ASA) has banned two crypto advertisements from crypto.com. The two advertisements in question are in-app ads, i.e people who have searched for a crypto-related keyword might see it while using any other app. The first ad encouraged users to buy Bitcoin using credit cards and the second card advertised crypto interest rates.
The ASA shared five major concerns surrounding these advertisements and shared the same with Forisgfs UK Ltd—trading as Crypto.com. The major notion around all the five concerns was unclarity around the risk involved with the investment. The ASA showed special concern towards how crypto ads often leave out the key factor around the risks and volatility. The five concerns outlined by ASA include:
The advertisements were deceptive because they neglected to convey the investment’s risk.
The advertisements were inappropriate and exploited consumers’ inexperience or credulity.
The Daily Mail
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