U.K. Advertising Watchdog to Clamp Down on Cryptocurrency Advertising as a 'Key Priority'

The organization has said that monitoring may also include social media influencers promoting currencies

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The British Advertising Standards Authority (ASA) has decided to place a focus on investigating the promotion of cryptocurrency as “a key priority”.

The organization, which regulates advertising across the U.K., has chosen to focus on such advertising following the boom in popularity of the likes of Bitcoin, Etherium and Dogecoin. These currencies are currently unregulated despite having been around for almost a decade.  

The focus of the investigation was initially reported by the FT following an interview with Miles Lockwood, director of complaints and investigations at ASA.

Consideration is also to be made on whether action would also be taken against social influencers who promote such currencies.

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