{"id":259358,"date":"2021-05-26T15:04:55","date_gmt":"2021-05-26T12:04:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uk-ad-organization-bans-crypto-exchanges-time-to-buy-bitcoin-advert\/"},"modified":"2021-05-26T15:04:55","modified_gmt":"2021-05-26T12:04:55","slug":"uk-ad-organization-bans-crypto-exchanges-time-to-buy-bitcoin-advert","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uk-ad-organization-bans-crypto-exchanges-time-to-buy-bitcoin-advert\/","title":{"rendered":"#UK ad organization bans crypto exchange's \u2018time to buy\u2019 Bitcoin advert"},"content":{"rendered":"

“#UK ad organization bans crypto exchange's \u2018time to buy\u2019 Bitcoin advert<\/strong>”<\/p>\n

<\/p>\n

                Luno exchange agreed not to post their Bitcoin ads in their current form again and promised to ensure that future ads would carry a proper risk warning. \n                <p>A major advertising industry organization in the United Kingdom has ruled on an ad campaign telling people \u201cit\u2019s time to buy\u201d Bitcoin (BTC).\n<\/code><\/pre>\n
The Advertising Standards Authority, a self-regulating ad organization, officially halted<\/a> an advertising campaign by cryptocurrency exchange Luno for being misleading and irresponsible.<\/p>\n
\u201cThe ads must not app<\/a>ear again in the form complained about,\u201d the ASA said Wednesday, noting that ads like this should mention that Bitcoin investment is highly risky due to its extremely volatile nature.<\/p>\n
Shown across the London Underground network and on London buses this year, Luno\u2019s ad posters contained an image of Bitcoin saying \u201cIf you\u2019re seeing Bitcoin on the Underground, it\u2019s time to buy.\u201d<\/p>\n
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Source:\u00a0<\/a>Financial Times<\/a><\/em><\/figcaption><\/figure>\n
The ASA said that it received several complaints regarding Luno\u2019s ad, with people stressing that their posters failed to illustrate the risk of Bitcoin investment. \u201cWe considered that consumers would interpret the statement \u2018it\u2019s time to buy\u2019 as a call to action and that the simplicity of the statement gave the impression that bitcoin investment was straightforward and accessible,\u201d the ASA said.<\/p>\n
Instead, Bitcoin investment is \u201ccomplex, volatile, and could expose investors to losses and considered that stood in contrast to the impression given by the ad, that investment was simple and conventional,\u201d the authority wrote.<\/p>\n
The ASA said that Luno agreed not to post their Bitcoin ads in their current form again and promised to ensure that future ads would carry a proper risk warning.<\/p>\n
The latest regulatory action comes against the backdrop of extreme volatility on crypto markets, with Bitcoin dropping from it\u2019s all-time high above $64,000 to around $31,000 in mid-May.<\/p>\n
As previously reported by Cointelegraph, crypto advocates have been distributing more Bitcoin ads around the world. Last September, the Bitcoin Association of Hong Kong launched the \u201cBitcoin Tram\u201d ad campaign in Hong Kong, with some ads placed right in front of HSBC headquarters and showing the words \u201cbe your own bank.\u201d<\/p>\n
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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
“#UK ad organization bans crypto exchange's \u2018time to buy\u2019 Bitcoin advert” Luno exchange agreed not to post their Bitcoin ads in their current form again and promised to ensure that future ads would carry a proper risk warning. <p>A major advertising industry organization in the United Kingdom has ruled on an ad campaign telling people…<\/p>\n","protected":false},"author":1,"featured_media":259359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMzIyM2E1OTItOTBmNC00NjNjLTllYWMtNzdlMTg5MmMxNjJhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-259358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/259358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=259358"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/259358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/259359"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=259358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=259358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=259358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}