Crypto Firms Ramp up London Advertising: Regulators on their Trail

For nine months, in Central London, If you step out from the tube and see a bus going on the street, then there are many chances where you can see various types of cryptocurrency advertisements.

The Block has obtained fresh data through a freedom of information request (FOI) from Transport for London (TfL) which sheds light on the important matters in various types of cryptocurrency advertisements that are spread around the capital in the year 2021.

Now for pushing the cryptocurrency market towards upwards, the tokens as well as their sources for opting them, several restrictions have been imposed in April because UK COVID 19 started to ease along with the advertisement volumes, which are growing up further at the end of 2021.

Then, last month, the Advertising Standards Authority (ASA), an industry watchdog, issued a “red alert” on crypto marketing. The Advertising Standards Authority (ASA), an industry watchdog, then issued a “red alert” on cryptocurrency promotion last month. The advertising authority has banned two advertisements for cryptocurrency exchange Crypto.com because they were deemed deceptive (ASA). Crypto.com’s coin (CRO) is the native currency of the Crypto.com Chain, which is an open-source and decentralized blockchain built by Crypto.com. According to this CRO price prediction, CRO has established a fast, reliable network and works with the user experience of the product based on algorithm calculation. These features can potentially increase the CRO price.

When the Financial Conduct Authority was not taking any action, the ASA was putting a lot of effort into showing a united front to avoid misleading marketing. In spite of this, the effect of rulings is important, as well as several material consequences. The authority has a reputation for moving slowly, only slapping restrictions on certain ad types in response to complaints.

Anne Rose, who is the managing executive in the commercial team as well as a team lead of the blockchain group in the company named Mishcon de Reya, stated that While the ASA cannot impose monetary penalties on non-compliant advertisements, it may and does send them to Trading Standards, the government agency that protects consumers from unfair trade.

Anne further stated that the trading standards are efficient in imposing various types of sanctions which include monetary fines.

The crypto industry has been a lot in the news lately.