The UK has banned Coinbase from publishing advertisements that downplay the risks of cryptocurrencies.

The UK Advertising Standards Authority (ASA) has banned a series of ads from Coinbase, arguing that they portrayed the cryptocurrency exchange as a solution to the cost of living while downplaying the risks of crypto investments. The ASA stated that the ads, including a satirical music video and three posters, were “irresponsible” and “downplayed the risks of cryptocurrencies.” They used humor to address serious financial problems and implied “change,” potentially misleading consumers into believing that complex, high-risk financial products were the simple or obvious solution. These ads had previously been rejected by Clearcast, the television advertising regulator, for similar reasons. (Cointelegraph)