Ireland could become the latest country to crack down on digital currency ads as the country’s advertising watchdog reviews its guidelines to protect investors from ‘misleading’ ads.
The Central Bank of Ireland issued its fresh warning on digital assets this week as part of Europe-wide campaign to educate investors on the risks that they face if they choose to invest in the asset class.
All virtual digital assets advertisements must follow the Advertising Standards Council of India guidelines, which include carrying a disclaimer, removing misleading statements and including the advertiser’s name and contact details.
The Australian Competition and Consumer Commission alleges Meta either knew the ads were misleading or assisted the scammers in attracting their target audience, while benefiting from placement revenue.
The Advertising Standards Authority (ASA) announced that it had banned the ad which contained an image of a cartoon dog wearing a Viking helmet as well as text that read, “MISSED DOGE. GET FLOKI.”
India’s advertising watchdog has released new rules for Bitcoin advertisements, including a requirement for a ‘high risk’ disclaimer and refraining from using “currency.”
Australian mining magnate Dr. Andrew Forrest is accusing the social network giant of being "criminally reckless" and knowingly profiting from illegal scam advertisements that used his image.
U.K. Chancellor Rishi Sunak noted that digital currency assets allow new ways to transact and invest, although he also emphasized the need to balance this innovation with investor protections.
The updated policy, which was first outlined in June, allows advertisers to market their digital currency services to audiences in the United States, provided they meet specific requirements.
In an update to its policies, the social media platform prohibited branded content relating to financial services such as digital currencies, foreign exchange, forex trading, and investment services.
The revisions are the first overhaul to the rules since late 2018, when it loosened restrictions around advertising from previously stricter measures.