The UK's Advertising Standards Authority (ASA) banned a series of Coinbase advertisements. The ASA ruled the campaign was socially irresponsible.
The watchdog found the ads wrongly implied crypto investment solves the rising cost of living. The campaign featured scenes of economic hardship in the UK. The ASA also determined the ads downplayed associated investment risks.
Coinbase stated its disagreement with the ruling. The company clarified the ad intended to provoke discussion about the financial system. Coinbase denied the ad offered a simple solution or minimized investment risks.
The ruling highlights growing regulatory pressure on crypto marketing in the region. Financial authorities repeatedly warn consumers about the asset class's volatility and risks. Coinbase's stock currently faces pressure from a broader downturn in the crypto market.