08-07-2025 
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Coinbase (NASDAQ: COIN) CEO Brian Armstrong is evidently dissatisfied with the reaction to the exchange’s latest advertising campaign, which he claims has been banned in the U.K. by ‘local TV networks.’
“Our ad which got banned in the UK by the TV networks has sparked quite a reaction. If you can’t say it, then there must be a kernel of truth in it,” the CEO tweeted on August 4.
The ad depicts British people singing about the joys of daily life while moving through a caricatured, crumbling Britain. The punchline is a well-worn ‘crypto’ trope: the current system isn’t working and must be replaced by—you guessed it—crypto, preferably those listed on Coinbase.
The connection between the ability to buy crypto on Coinbase and the leaky roofs, piles of garbage, and intermittent electrical coverage depicted in the video wasn’t immediately clear.
According to a report by The Telegraph, the advert was actually rejected by Clearcast, a non-government organization that screens advertisements to ensure compliance with the Broadcast Committee of Advertising Practice (BCAP) Code.
“Clearcast reviewed a pre-production script and rough cut for this advert. We considered that it presented cryptocurrency as a potential solution to economic challenges, without sufficient evidence for this claim or any warnings about the potential volatility and risks.”
Nonetheless, Armstrong’s tweet evolved into an impassioned defense of the advertisement’s content, apparently reacting to as-yet unseen accusations of bias against the U.K.:
“Needing to update the system and improve society is not a political statement on either party in the UK (some have tried to turn it into this). And it’s not specific to the UK (we ran ads with similar themes in the US). It’s a statement about how the traditional financial system is not working for many people and how crypto represents a way to improve that.”
Given the disconnect between Clearcast’s response and Armstrong’s implications about why the ad was rejected, it’s fair to wonder whether the crux of the ad campaign is less the video and more whatever controversy can be manufactured from it, as Armstrong seems to tip off at the end of his tweet:“We welcome the attacks and any other attempts to censor this message, as it just helps it spread.”
Digital asset marketing has received notable attention in the United Kingdom in recent years.
In addition to Clearcast’s gatekeeping role, the Advertising Standards Authority is responsible for investigating and responding to complaints about advertisements that have already hit the air. Though it has not reviewed the latest Coinbase campaign, it did rule against Coinbase in a complaint made in 2021, over an ad which bragged about the appreciating value of BTC and invited customers not to ‘miss out on the next decade.’
More generally, promotions of financial investments are regulated by the Financial Conduct Authority (FCA), the U.K.’s financial regulator. The FCA has issued several new rules over the past two years aimed at cracking down on irresponsible crypto promotion. Among other things, marketing campaigns must be clear and easy to understand and fully inform customers of potential risks. It must ensure all relevant information is included and that claims about potential benefits are not exaggerated.
There is no evidence that either the FCA or the ASA has reviewed Coinbase’s latest video.
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