The united kingdom advertvertising watchcanine has launched an investigation Proper into a London bus and underground advert advertising campaign for Floki Inu, a meme coin named after a canine owned by Elon Musk, as strain rises to ban cryptocurrency advertising on public transport communitys.

The Promoting Requirements Authority launched the investigation after receiving complaints about Floki’s latest advertising campaign.

The poster advertising campaign encourages The general public to Pay money for the cryptocurrency craze, interesting for them to look to Floki In the event that they Weren’t quick enough To buy into completely different properly-appreciated cryptocurrencies, Similar to Doge, early enough.

“Missed Doge? Get Floki”, runs one strapline. The advertising campaign, which ran For 3 weeks final month, advertditionally makes use of The agency’s cartoon canine emblem.

In Might, the ASA banned a advertising campaign for the cryptocurrency tradverte Luno that ran on the Transport for London (TfL) community.

The advertising campaign, which informed The general public “it’s time To buy” bitcoin, was found to be misleadverting and irresponsible for encouraging people to Pay money for unregulated monetary merchandise.

On Wednesday, a spokesman for the ASA said: “Whereas I can’t go into specifics Presently, I can conagency that We’re presently investigating Floki Inu.”

The investigation comes days after Liberal Democrat and Inexperienced celebration members of the London meeting referred to as on TfL to cease taking advertvertising from cryptocurrency-associated corporations till the UK authorities and Financial Conduct Authority set out new steerage on advertising.

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TfL says that while it Does not have a ban on the advertising of cryptocurrencies, the advert advertising campaigns are extra closely scrutinised than than these for completely different sectors. This consists of advertding a disclaimer on all advertvertisements making it clear that cryptocurrencies are unregulated Inside the UK.

“TfL is writing to the ASA and FCA to ask For his or her views on the considerations being raised,” said a spokeswoman for the mayor of London, Sadvertiq Khan, who chairs TfL. “As quickly as TfL has that enter They will think about what movement Might be needed going aheadvert.”

Floki, which is funded by an nameless group, said its advertvertisements complied with “all legal guidelines and legal guidelines”.

Last yr, the UK treasury proposed the introduction of stricter guidelines for the monetary advertvertising of most cryptocurrencies.

Source: https://www.theguardian.com/technology/2021/nov/17/advertising-watchdog-investigates-tube-adverts-for-floki-inu-cryptocurrency-elon-musk-dog

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