The UK regulator has launched an investigation into the Floki Inu advertising campaign
The supervisory authority noted that advertising encouraged people to invest in unregulated financial products
19.11.2021 - 12:45
What’s new? The UK Advertising Standards Authority (ASA) has launched an investigation into an advertising campaign for the Floki Inu cryptocurrency meme on the London Underground and buses. The regulator is analyzing the legality of promoting such products, the Financial Times reports.
Information on the Financial Times
The advertising campaign began in October and ran for three weeks. Ads with the slogan “Missed Doge? Get Floki” started to appear on public transport.
What was the reason for the investigation? The campaign, which offered the public to buy cryptocurrencies, was found to be misleading and irresponsible. The regulator noted that it encouraged people to invest in unregulated financial products.
The investigation came days after members of the London Assembly demanded that Transport for London (TfL) stop accepting advertising from cryptocurrency-related firms.
What do the TfL representatives say? TfL reported that while they do not have a ban on cryptocurrency marketing, their advertising campaigns are subject to more scrutiny than for other sectors. Disclaimers are included for all advertisements, making it clear that cryptocurrencies are not regulated in the UK.
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