The 'Missed Doge? Get Floki' ad “exploited consumers' fears of missing out and trivialized investment in cryptocurrency,” said the regulator. crypto cryptocurrency
The U.K.’s advertising authority has banned an ad for cryptocurrency floki inu . The authority says the ad’s “Missed Doge? Get Floki” claim “exploited consumers’ fears of missing out and trivialized investment in cryptocurrency.” The ad was also “irresponsible” and “took advantage of consumers’ inexperience or credulity,” the regulator said.The Advertising Standards Authority , the U.K.
In addition, the advertising watchdog ruled that “the ad was irresponsible” and “took advantage of consumers’ inexperience or credulity.” The ASA explained that it has told the team behind the floki inu cryptocurrency “to ensure that they did not irresponsibly exploit consumer’s fear of missing out and trivialize investment in cryptocurrency.” They must also “ensure that they did not irresponsibly take advantage of consumers’ lack of experience or credulity by not making clear CGT could be due on cryptocurrency profits.
The British advertising authority has been cracking down on misleading crypto ads. In December, the ASAIn addition, the U.K. government in January its plans to impose new rules on cryptocurrency advertisements to “protect consumers from misleading claims.”