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UK Regulator Continues Crypto Ad Crack Down, Bans Ziglu's Campaign

2022/03/09 12:04

According to Finance Magnates, The United Kingdom’s ads regulator, the Advertising Standards Authority (ASA), has cracked down on cryptocurrency ad campaigns of Ziglu, an FCA-regulated online crypto platform. The exchange ran promotions under which it put digital posters across Edinburgh with the text: “Scotland, your capital is at risk.As with any investment, your capital is at risk.” A complaint filed against Ziglu’s ad challenged that it caused unjustifiable distress, stating that the capital of all Scottish consumers’ was at risk. It was also alleged to be ‘misleading’ and ‘irresponsible’. Ziglu further said that the intention of the ad was only to trigger debate by using a prominent risk warning. It was not about cryptocurrency, so there was no obligation to provide information about taxes. The ASA, however, upheld all the three allegations against the ad and ordered Ziglu not to run the ad further.
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