UK regulator mandates Bitcoin ads to be removed from Crypto Exchange in London

The UK Advertising Standards Authority (ASA) has forced the crypto exchange Luno to remove its large-scale Bitcoin advertising campaign from London's public transport network. ASA considered the advertisements on the London Underground to be irresponsible and misleading. UK Ad Regulatory Authority Banns 'Irresponsible' Bitcoin Ads "If you see bitcoin on the subway, it's time to buy" Read Luno ad campaign launched last December. Luno Bitcoin ad. Image: Advertising Standards Authority (ASA). The ASA received four complaints about the Luno campaign, according to the Guardian report released today. The parties say the campaign bypasses the risks associated with investing in cryptocurrencies by taking advantage of inexperienced investors. The organizer explained that Luno is targeting people who are not necessarily familiar with the financial world by placing its ads in public spaces such as the London Underground and buses. In addition, the stock market slogan "Time to buy" means "Making Bitcoin investing easy and affordable." "We understood that Bitcoin investments are complex and volatile and can cause losses to investors. ASA said in a statement that was the opposite of this announcement." Following the decision, Luno said it would add a "proper risk alert" to its future campaigns. In particular, this is the first Bitcoin ad that ASA has worked hard on. In mid-March, the Coinfloor crypto exchange banned crypto ads as well, as it was “ irresponsibly '' promoting Bitcoin as an investment for retirees.On April 1, the Spanish National Securities Market Commission went further for outdoor advertising promoting crypto. announced its intention to enforce strict regulatory guidelines CompanyLearn more

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