U.K. ad watchdog ASA bans Coinbase (COIN) ‘irresponsible’ crypto ads

The U.K.'s Advertising Standards Authority (ASA) banned several Coinbase advertisements because they suggested that investing in cryptocurrency could help consumers escape financial difficulties, such as the cost-of-living crisis, and because they misrepresented the risks associated with crypto investing. The banned ads, shown in August, featured imagery implying the country was failing financially, leading the ASA to conclude the ads trivialized investment risks by presenting crypto as an alternative solution to economic hardship. Coinbase stated it respected the decision but fundamentally disagreed with characterizing the campaign, which critically reflected economic conditions, as socially irresponsible. The watchdog ordered Coinbase not to run the ads again in that form and to ensure future ads do not imply crypto is a solution to financial concerns.

(Source：CoinDesk)