U.K. advertising regulator ASA_UK banned a crypto.com ad on Facebook. The crypto exchange fell foul of the regulator in January as well. camomileshumba reports
"Because the [Facebook] ad did not include any risk warning making consumers aware that the value of NFTs could go down as well as up, or that they were an unregulated crypto asset we concluded that the ad was misleading," it said."We told Foris DAX Global Ltd t/athat their advertising must make clear the risks of NFTs ... . They should also not omit material information regarding fees and charges on their platform.
In a submission to the authority, the exchange pointed out that the ad was no longer live and that it promoted the trading platform, not a specific NFT. Therefore, it said,"it would be unreasonable to request that the specific ad include limitations or qualifications regarding the risk of investing in NFTs," according to the ASA's statement.
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