UK Regulator Prohibits Coinbase Ad Campaign

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The UK Advertising Standards Authority has reportedly banned a Coinbase advertising campaign, concluding that the ads improperly minimized the dangers of investing in cryptocurrency and suggested it was a fix for living-cost worries.

The ASA deemed the advertisements, which included a musical-style video and three posters, to be “irresponsible.” The Guardian reported the watchdog said the materials “trivialized the risks of cryptocurrency.”

In its assessment, the ASA stated, “We considered that using humour to reference serious financial concerns, alongside a cue to ‘change,’ risked presenting complex, high-risk financial products as an easy or obvious response.”

Although Clearcast, the body that pre-approves TV ads, rejected the video in July for presenting crypto as an unsubstantiated solution to economic issues, the ASA found it was still shown online. The three posters, meanwhile, had been placed in busy public areas such as the London Underground and train stations.