Summary
The UK's advertising watchdog banned Coinbase ads because they suggested that cryptocurrency could help with cost of living concerns. The Advertising Standards Authority (ASA) found the ads irresponsible because they downplayed the risks of crypto investments. Coinbase disagreed with the decision but stated their intention to communicate responsibly.
Key Facts
- The UK's Advertising Standards Authority (ASA) banned ads from Coinbase.
- The ads implied that cryptocurrency could help with living costs in the UK.
- ASA said the ads made crypto risks seem less serious than they are.
- Coinbase disagreed but said it aims for responsible communication.
- Cryptocurrency investments are mostly unregulated in the UK.
- The Financial Conduct Authority has advised people about risks in crypto investments.
- Previous crypto ads have also been banned for not clearly showing risks.
