UK Advertising Watchdog Bans Coinbase Ads for Irresponsibility
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 1h ago- Ad Ban: The UK's Advertising Standards Authority has banned a series of Coinbase advertisements, ruling that they irresponsibly suggested cryptocurrency could alleviate financial pressures related to the cost-of-living crisis, potentially misleading investors about the risks involved.
- Lack of Risk Warnings: The regulator noted that none of the ads included risk warnings, despite guidance from the Financial Conduct Authority stating that crypto assets are largely unregulated and investors should be prepared to lose all their money, which could lead to uninformed investment decisions.
- Controversial Content: One banned two-minute video used dark humor to depict economic decline in Britain, showcasing crumbling homes and rising living costs, implying that using Coinbase could serve as an alternative to financial stress without adequately addressing the associated risks.
- Coinbase's Response: Coinbase disagreed with the ruling, arguing that the campaign was intended to spark discussion about the financial system rather than promote crypto as a simple solution, demonstrating its commitment to operating within the UK's regulatory framework.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
