• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Friday, January 27, 2023
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

UK’s ASA bans two Crypto.com ads in latest crackdown

News
by Gauri Bhatia
5 January 2022
UK’s ASA bans two Crypto.com ads in latest crackdown

Source: Unsplash

Share on FacebookShare on Twitter

The UK’s marketing watchdog Advertising Standards Authority (ASA) has effectively banned two advertisements by cryptocurrency platform Crypto.com as it looks to widen its crackdown on advertisements related to the nascent industry.

In a ruling published January 5, ASA ordered Crypto.com to remove two in-app ads, sharing five major concerns surrounding these advertisements. The ads in question include a 1 September 2021 ad (a) seen in The Daily App which read “Buy Bitcoin with credit card instantly.”

The other ad (b) was seen on 30 July 2021 in the Love Balls app, where Crypto.com promised that users can “Earn up to 3.5% p.a,” in crypto assets. However, the number in the text increased to 8.5% which could be misleading for traders who can assume their investments would grow by the latter number.

The watchdog explained that both Crypto.com ads “were misleading because they failed to illustrate the risk of the investment” as well as taking advantage of consumer inexperience and belief. It also criticized Crypto.com’s encouragement to purchase crypto assets by credit cards without warning about the risks of borrowing.

While the ad standards bureau did not fine Crypto.com, it warned that future ads should also explain that cryptocurrencies have the potential to decline as well. In response to the warning, Crypto.com told crypto news media Coindesk:

“We appreciate the collaborative dialogue and engagement from the ASA regarding advertising in the U.K. in this relatively new industry, and remain committed to working with them and regulators around the world to ensure all of our activities are compliant with the most recent regulatory guidelines.”

Previous Post

Gains Network Unlocks First Part of $750K Grant To Grow Decentralized Leveraged Trading Platform gTrade

Next Post

OpenSea crosses $13B valuation after $300M investing round

Gauri Bhatia

Gauri Bhatia

Gauri is a full-time Content Writer at Our Bitcoin News. With a degree in Economics, she covers major news and concerns surrounding crypto-space.

Related Posts

Bitcoin, best January since 2013 ── American institutional investors lead | coindesk JAPAN | Coindesk Japan

Bitcoin, best January since 2013 ── American institutional investors lead | coindesk JAPAN | Coindesk Japan

by Damien Martin
27 January 2023

Bitcoin (BTC) has had its strongest start since 2013. The price of Bitcoin, the world's largest cryptocurrency by market capitalization,...

DEA releases collaboration NFT with popular mahjong game “Idol Janshi Suchie-Pai”

DEA’s NFT Marketplace Allows Buying With Fiat Currency

by Kurt Ebenzer
27 January 2023

Introduced fiat currency settlement to the NFT market Digital Entertainment Asset Pte. Ltd. (DEA), a global developer of the GameFi...

BuzzFeed Stock Soars 119% After OpenAI Content Boost

BuzzFeed Stock Soars 119% After OpenAI Content Boost

by Kurt Ebenzer
27 January 2023

BuzzFeed Stock Soars Following a report that US digital media company BuzzFeed plans to provide content using AI (artificial intelligence)...

No Result
View All Result

Recent Posts

  • Bitcoin, best January since 2013 ── American institutional investors lead | coindesk JAPAN | Coindesk Japan
  • DEA’s NFT Marketplace Allows Buying With Fiat Currency
  • BuzzFeed Stock Soars 119% After OpenAI Content Boost
  • Huobi Japan starts handling pallet token (PLT) | coindesk JAPAN
  • Ethereum L2 Demand Increases, Optimism Token Hits Record High
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News