Crypto Firms Get a Slap From UK Advertising Regulator Over Misleading Ads

Crypto Firms Get a Slap From UK Advertising Regulator Over Misleading Ads
Cryptocurrency trading giants Coinbase, eToro and Luno were among a gaggle of virtual asset industry participants to receive a warning from the U.K.’s Advertising Standards Authority (ASA) for promotions that were misleading about the risk associated with such investments.The firms were criticized for “irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk” of investing in cryptocurrencies.Crypto firms have caused consternation at regulatory bodies in the U.K. before, including the Financial Conduct Authority, following advertising campaigns involving Transport for London, for example. Such promotions usually accompany a spike in the price of crypto tokens.Other companies censured include…