UK advertising watchdog flags crypto ads ‘red alert’ priority

UK advertising watchdog flags crypto ads ‘red alert’ priority

Amid the United Kingdom taking a tougher regulatory stance on the cryptocurrency industry, a major local advertising industry organization has announced a crackdown on crypto ads.

The Advertising Standards Authority (ASA), the U.K.’s independent advertising regulator, plans to launch a major effort this month to hunt and shut down misleading crypto adverts, the Financial Times reported Friday.

Miles Lockwood, ASA’s director of complaints, said that the authority would particularly target irresponsible crypto ads shown online and on social media platforms, adding:

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“We see this as an absolutely crucial and priority area for us. Where we do find problems, we will crack down hard and fast.”

Lockwood elaborated that the ASA has identified crypto ads as a “red alert” priority over financial adverts. As such, the regulator is now increasing its capacity to track suspect ads online using technology like scraping and artificial intelligence. The ASA is also working with big tech platforms to get scam adverts taken down as part of a separate

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