UK bans Coinbase adverts that suggested crypto could ease cost-of-living pressures

"The UK's advertising watchdog has banned a series of adverts by Coinbase, ruling that they implied cryptocurrency could help ease cost-of-living pressures and downplayed the risks associated with crypto investing. The Advertising Standards Authority (ASA) upheld complaints from members of the public after the adverts ran in August, depicting Britain in various states of decline alongside a satirical slogan and the Coinbase logo."

"The campaign included three poster adverts and a video which portrayed families, businesses and communities struggling amid economic hardship. Scenes highlighted by the ASA included a family home "in a state of disrepair", a high street with shuttered shops "littered with binbags and rats", and supermarket shelves marked with signs showing rising prices."

""By presenting the country as failing in areas such as the cost of living and home ownership, the ads implied that consumers should make a financial change," the watchdog said. It added that the combination of the slogan and Coinbase's logo suggested the crypto exchange "could be part of the solution to the financial problems stated in the ads"."

The Advertising Standards Authority banned Coinbase adverts that implied cryptocurrency could help ease cost-of-living pressures and downplayed investment risks. The adverts ran in August and depicted Britain in states of decline, including a family home "in a state of disrepair," a high street with shuttered shops "littered with binbags and rats," and supermarket shelves marked with rising prices. The imagery was paired with a satirical refrain suggesting everything was "just fine" and the slogan "if everything's fine don't change anything" alongside Coinbase branding. The ASA received 35 complaints, concluded the ads breached advertising rules, and ordered they must not appear in their current form. Coinbase said it disagreed with the decision.

Read at Business Matters