TechFlow News — The UK Advertising Standards Authority (ASA) has issued enforcement notices to over 50 companies promoting cryptocurrency services, urging them to review their advertisements for compliance with new guidelines. Affected firms include Coinbase, eToro, Luno, and Crypto.com. Companies must verify by May 2 (local time) that their ads meet the requirements; afterward, non-compliant advertisers will be reported to the Financial Conduct Authority (FCA).
The ASA stated that adherence to cryptocurrency advertising rules is a "red alert" priority. The new guidance requires crypto ads to include a statement clarifying that "cryptocurrency investments in the UK are not regulated, their value is variable and may go down." Additionally, ads must not claim or imply that crypto investing is an easy decision, suitable for everyone, or promote FOMO (fear of missing out). In January, the UK announced plans to tighten regulations on cryptocurrency advertising and advance legislation to protect consumers.
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