UK bans Coinbase ads that ‘trivialized’ crypto risks: Report
Coinbase’s musical ad depicting a run-down UK, which was already blacklisted from TV, has reportedly seen a wider ban by the country’s ad watchdog for being “irresponsible.”
The UK’s advertising watchdog has reportedly banned a series of Coinbase advertisements, claiming they presented the crypto exchange as a solution to cost-of-living concerns while making light of the risks of investing in crypto.
The UK Advertising Standards Authority said the ads — which included a satirical musical-style video and three posters — were “irresponsible” and “trivialized the risks of cryptocurrency,” The Guardian reported on Wednesday.
“We considered that using humour to reference serious financial concerns, alongside a cue to ‘change,’ risked presenting complex, high-risk financial products as an easy or obvious response to those concerns,” the ASA said.