Emily Boswell https://cryptohead.com 2m 386 #crypto
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
New research reveals the crypto ads banned for breaching UK advertising guidelines
Rank | Company | Types of Breach | Total Code Breaches |
1 | Misleading Advertising (6) Financial Products (3) Qualification (2) Social Responsibility (1) Substantiation (1) | 13 | |
2 | Coinbase | Misleading Advertising (6) Financial Products (3) Qualification (2) Social Responsibility(1) | 12 |
3 | Arsenal F.C. | Misleading Advertising (4) Financial Products (2) Qualification (2) Social Responisibility (1) | 9 |
3 | Luno Money | Misleading Advertising (4) Financial Products (2) Qualification (2) Social Responsibility (1) | 9 |
5 | Coinfloor | Financial Products (2) Misleading Advertising (2) Qualification (2) Social Responsibility (1) | 7 |
6 | Ziglu | Misleading Advertising (2) Financial Products (1) Harm and Offence (1) Qualification (1) Social Resposibility (1) | 6 |
6 | Skrill | Financial Products (2) Misleading Advertising (2) Qualification (1) Social Responsibility (1) | 6 |
6 | Coinburp | Financial Products (2) Misleading Advertising (2) Qualification (1) Social Responsibility (1) | 6 |
6 | eToro | Financial Products (2) Misleading Advertising (2) Qualification (1) Social Responsibility (1) | 6 |
6 | Exmo Exchange | Financial Products (2) Misleading Advertising (2) Qualification (1) Social Responsibility (1) | 6 |
6 | Payward/Kraken | Financial Products (2) Misleading Advertising (2) Qualification (1) Social Responsibility (1) | 6 |
- The most common type of advertising breach was ‘misleading advertising’ with 44 breaches made by crypto ads. This terminology refers to instances where an advertisement misleads the viewer by either suggesting things that are untrue, or leaving out information that is crucial in order for the viewer to form a balanced opinion.
- This was followed by ‘financial products’ and ‘qualification’ with 29 and 16 breaches respectively. A very frequently-occurring example of financial products violations is that many of these crypto ads failed to mention the tax implications of investing in crypto, which is a breach of regulations as profits may be subject to capital gains tax (CGT).
Some of the most high-profile celebrity endorsements that have caused a stir include Floyd Mayweather Jr. and Ethereum Max, Jamie Foxx and Cobinhood and Charlie and Dixie D’Amello’s promotion of Gemini.
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