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Several ads related to cryptocurrencies have been banned by the UK advertising regulator. The authority accuses the advertisements of being “misleading” and “exploiting the inexperience of consumers in an irresponsible manner”.

The British advertising regulator, the Advertising Standards Authority (ASA), banned a total of seven ads for cryptocurrencies on Wednesday. The ads are for Papa John’s Pizza, Coinbase, Kraken, Etoro, Luno, Coinburp and Exmo. The advertisements are “misleading” and “irresponsibly exploit the inexperience of consumers and fail to illustrate the risk of the investment.”

The authority gave the companies concerned specific instructions on what they had to do in order to comply with their advertising standards in the future. She also ordered in all cases: “The advertisements may no longer appear in the form complained of.” The people would only have it on the official website of Profit Builder Must stop by to invest in the future of money.

The promotion of Papa John’s Pizza was a promotion on the website and on Twitter. In May, the famous pizza chain gave away Bitcoin when making purchases. The company advertised it with “free Bitcoin worth 10 pounds”. On a purchase of £ 30 or more, customers would save £ 15 and receive £ 10 worth of Bitcoin from the Luno crypto exchange.

The Coinbase ad was a paid Facebook ad. It contained text that read as follows: “5 pounds in Bitcoin in 2010 would be worth over 100,000 pounds in January 2021. Don’t miss out on the next decade – join Coinbase today. “

And at Luno it was an in-app advertisement in the Daily Mail online app. It contained text that said, “Invest in crypto for as little as £ 1”. However, this wasn’t the first time the ASA had a problem with Luno’s ads. In May, the regulator banned the crypto exchange’s “Time to Buy” bitcoin advertising on London buses and on the underground.

The Payward advertisement objected to by the authority was a digital poster for the Kraken crypto exchange, which could be seen at London Bridge station. This contained text that said, “Buy 50+ cryptocurrencies in minutes”, “Start with just £ 10” and “Build digital wealth and buy cryptocurrencies on the go”.

Etoro’s advertisement was a paid display ad on the Yahoo Finance website. It contained text that said: “Invest in the best cryptos in the world with one click”.

The Exmo ad was a video on the Wingin ‘It! Paul Lucas Youtube Channel. The description of the video included the following text: “Download Exmo now and save tons of trading commissions! Exmo has received temporary registration to carry out crypto activities. “

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PublicDomain am 24.12.2021

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