2021-06-22

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The British regulator banned the advertisement of bitcoins with the slogan “Time to buy” – it was considered irresponsible

1 min read

British Advertising Standards (The Advertising Standards Authority) has banned the advertisement of bitcoins, which contained the “time to buy” phrase. The supervisory authority considered it irresponsible. The Guardian writes about it. Her authors were accused of using consumer gullibility.

Source: British Advertising Standards Management

The regulator accepted the appropriate solution week after the global fall of the cryptocurrency market. Then, during the day, Bitcoin lost about 30% in price. As the ASA clarifies, the department received a complaint that advertising does not illustrate the risks that the purchase and trade in bitcoins will attract. According to the authors of the complaint, the ad was the inexperience and credulity of consumers.

«We understand that the investment in bitcoins is a complex and unstable process that investors subjected to certain risks. It contrasts with advertising. The announcement sees a wide audience, which probably has no experience in working with cryptocurrency, “says the regulator statement.

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Cryptovaya collapse happened on May 19. The happening spurned Ilon Mask (Elon Musk), who announced the suspension of Tesla sales of cars for bitcoins. As a result, the price of cryptocurrencies fell to $ 32 thousand. At the time of writing, the news a digital coin restored some of the losses, rising to $ 39.1 thousand.

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