WebsCrypto
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
Facebook Twitter LinkedIn Telegram
WebsCryptoWebsCrypto
ADVERTISE
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
WebsCrypto
Markets

UK ASA Issues Enforcement Notice to Over 50 Companies Promoting Cryptocurrencies

By WebsCryptoMarch 23, 20221 Min Read
UK ASA Issues Enforcement Notice to Over 50 Companies Promoting Cryptocurrencies
Share
Facebook Twitter Telegram LinkedIn Reddit Email

The UK Advertising Standards Authority (ASA) issued an enforcement notice to more than 50 companies advertising cryptocurrencies, describing the issue as a red alert priority. The notice tells the companies to review their ads to make sure they understand and follow the rules so consumers are treated fairly.

Specifically, the ad must clearly state that cryptocurrencies are not regulated in the UK and the investment value is variable. They also must not imply that investment decisions are “trivial, simple, easy, or suitable for anyone” or “imply a sense of urgency to buy or create a fear of missing out.”

The ASA has recently banned several cryptocurrency ads for misleading consumers and being socially irresponsible.

The watchdog said it will continue to monitor compliance and impose sanctions if it sees no improvement. It has also partnered with the FCA, which recently revealed that it opened more than 300 cases involving cryptocurrency companies in the last six months and conducted 50 investigations, including criminal investigations, into companies in the industry.

Related:  $63.5 Million in ETH Stolen from Harmony's Cross-Chain Bridge, Transferred to Three Exchanges by Alleged North Korean Hackers
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Crypto Cryptocurrency
Related News

US Government Seizes $5.6 Billion Worth of Bitcoin in Three High-Profile Cases

CFTC Defines Bitcoin, Ethereum and Litecoin as Commodities, Not Securities

Why Is the CFTC Suing Binance?

Venezuelan Regulators Shut Down Cryptocurrency Exchanges, Mining Farms

Dogecoin Foundation Releases Major Update to Libdogecoin Toolkit, Supports BIP-39 Seeds and QR Code Generation

Billionaire Tim Draper: Companies Should Hold Bitcoin After SVB Bankruptcy

The Latest
Markets March 28, 2023
US Government Seizes $5.6 Billion Worth of Bitcoin in Three High-Profile Cases
Markets March 28, 2023
CFTC Defines Bitcoin, Ethereum and Litecoin as Commodities, Not Securities
Business March 28, 2023
Balmain Launches Limited Edition NFT Series Unicorn Phygit Wearable Collection
News March 28, 2023
Timothy Peterson Claims 6 Million Bitcoins Are Lost Forever
Opinions March 28, 2023
Why Is the CFTC Suing Binance?
Block 3000

WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

Facebook Twitter LinkedIn Telegram RSS
Categories
  • News
  • Markets
  • Business
  • Markets
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Tags
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Regulation
  • Policy
About
  • About Us
  • Contact Us
  • Advertise
  • Crypto Prices
  • Privacy Policy
  • Terms of Service
© 2023 WebsCrypto.

Type above and press Enter to search. Press Esc to cancel.