UK bans cryptocurrency ads from Papa John’s Pizza, Coinbase, Etoro, Luno, Kraken

UK advertising oversight has banned a number of cryptocurrency ads, including Papa John’s Pizza, Coinbase, Kraken, Etoro and Luno. Authorities said the ads were “misleading” and “exploited the user’s inexperience irresponsibly”.

British agency bans 7 crypto ads

The Advertising Standards Authority (ASA) UK banned seven crypto ads from Papa John’s Pizza, Coinbase, Kraken, Etoro, Luno, Coinburp and Exmo on Wednesday.

After a review, the UK advertising regulator found the advertisements to be “misleading” and “irresponsibly exploiting the inexperience of consumers and not exposing the risks of the investment”.

In addition to company-specific instructions on what to do in order to meet the future advertising standard, the ASA ordered in each case:

“Advertisements may not appear again in the form complained of.”

Advertisements for Papa John’s Pizza will be posted on their website and on Twitter. The popular pizza chain gave away Bitcoin with every purchase in May and advertised “free Bitcoin worth 10 pounds”. On purchases of £ 30 or more, customers save £ 15 and receive £ 10 worth of Bitcoin from the Luno exchange.

Coinbase ads are paid ads on Facebook.

“5 pounds of Bitcoin in 2010 will be worth over 100,000 pounds by January 2021. Don’t miss the next decade – get started with Coinbase today. ”

Luno’s advertisements are published in the Daily Mail online application.

“Invest in cryptocurrencies for as little as £ 1”.

This is not the first time the ASA has had problems with Luno’s ads. In May, the authorities banned the exchange’s “Time to Buy” bitcoin advertising on buses and the London Underground.

Paywards Advert is a digital poster for the Kraken Exchange at London Bridge Station. These include “Buy 50+ cryptocurrencies in minutes”, “Start with just £ 10” and “Digital enrichment and buy crypto on the go”.

Etoro Ads are paid display ads on the Yahoo Finance website.

“Invest in the world’s leading cryptocurrencies with just one click.”

Exmo’s ad is a video about Wingin ‘It! Paul Lucas. The description of the video reads: “Download Exmo Now and Save Big Trading Fees! Exmo has been temporarily registered to carry out crypto-related activities. ”

The seventh banned ad was the Youtube Channel of the cryptocurrency trading platform Coinburp, which contained a bio section that said, “Register in minutes, deposit instantly, then make monetary transactions super easy and secure”.

In November, the ASA launched an investigation into the Floki Inu (FLOKI) cryptocurrency advertising. The ads were titled “Missing Doge? There was “Floki” on London buses and the Tube.

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