Advertising Standards Authority

The United Kingdom’s Advertising Standards Authority, or ASA, has approved an official ban on two mobile application advertisements from popular trading platform Crypto.com that promoted the ease of purchasing cryptocurrencies, such as Bitcoin, as well as earning yield rewards on digital assets. Gaining notoriety within the industry for their strict legislation on the proposed implications of a cryptocurrency advert, the ASA flagged the marketing material for breach of a number of financial watchdog rules, including not effectively stating the risk potential of the investment, abusing consumers’ lack of market understanding and not specifying the limitations of purchasing crypto with credit cards. Crypto.com removed the advert voluntarily once the concern was raised, but debated the ...