UK Ad Watchdog to Clamp Down on Crypto: Report
9 Jul, 2021•1 min read•Other
The U.K. Advertising Standards Authority (ASA) is to tighten its monitoring of crypto marketing.
The advertising regulator said it will ramp up steps to identify and remove misleading or irresponsible ads for crypto products, the Financial Times reported Friday. Efforts will particularly focused on online and social media platforms, with companies being warned or required to add disclaimers to their ads. The authority has identified crypto as a "red alert," said Miles Lockwood, the ASA's director of complaints and investigations. While the ASA has generally been reactive in this area – responding to complaints from consumers – it will now actively look for potentially misleading online ads using artificial intelligence and web scraping, the FT said.