The SEC announces charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax.
The complainant challenged whether the crypto ads featured on Jessica and Eve Gale’s Instagram accounts were irresponsible.
Following independent review, the ASA decision to uphold the complaints against Arsenal FC crypto ad remains unchanged.
The UK FCA has not been given regulatory oversight over the direct investments in cryptoassets and NFTs.
The UK ASA has issued an Enforcement Notice to over 50 companies which advertise cryptocurrencies, instructing them to review their ads.
The ACCC alleges that the ads, which promoted investment in cryptocurrency, were likely to mislead Facebook users.
The ASA challenged whether the ad was irresponsible because the use of an image of a cartoon dog trivialised investment in cryptocurrency.
The new FCA rules seek to improve risk warnings on ads and ban incentives to invest, for example new joiner or refer-a-friend bonuses.
Plans to strengthen the rules on cryptoasset advertisements and protect consumers were published by the UK Government today.
Payment and cryptocurrency trading platform Crypto.com got under fire in the UK for two in-app ads.