UK Ad Watchdog to Clamp Down on Crypto Marketing: Report
The agency is flagging crypto as a "red alert."
Jul 9, 2021 at 9:10 a.m. UTCUpdated Aug 21, 2021 at 6:47 p.m. UTC
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The U.K. Advertising Standards Authority (ASA) plans to tighten its monitoring of crypto marketing.
- The advertising regulator said it will ramp up steps to identify and remove misleading or irresponsible ads for crypto products, the Financial Times reported Friday.
- Efforts will particularly focus on online and social media platforms, with companies being warned or required to add disclaimers to their ads.
- The authority has identified crypto as a "red alert," said Miles Lockwood, the ASA's director of complaints and investigations.
- While the ASA has generally been reactive in this area – responding to complaints from consumers – it will now actively look for potentially misleading online ads using artificial intelligence and web scraping, the FT said.
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