On 23 November 2021, the ASA, the UK's independent advertising regulator, announced that it is investigating #crypto-asset ads. 

The ASA is aware that people are concerned about crypto-asset advertising – particularly regarding cryptocurrencies and 'non-fungible tokens' (NFTs). It states that this is a ‘red alert’ priority issue. 

The ASA is currently investigating a number of crypto-asset ads across different media, where it has identified concerns regarding:

  • the lack of appropriate risk warnings
  • the trivialisation of investments in cryptocurrency
  • ads taking advantage of consumers’ inexperience or incredulity
  • irresponsible advertising (for example, creating a sense of urgency to invest).

The ASA confirms that it will provide more clarity around its expectations when it comes to crypto-asset advertising through rulings which it intends to publish in mid-December. 

The ASA will then carry out proactive monitoring and enforcement to tackle non-compliant ads for crypto-assets.