Cryptocurrency firms hit Londoners with a record number of public transport ads in 2021, prompting a ban to prevent people from being tricked into investing at risk.
Growing ads for crypto assets that are not regulated in the UK.
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Raising concerns about the risks of addiction and financial harm Especially because of the volatility in the price of cryptocurrencies like bitcoin, which hit record highs last year before crashing again.
It also appears that Transport for London (TfL) is not implementing the gambling advertising ban promised by Mayor Sadiq Khan, allowing the industry to step up its marketing activities at the same time.
Records obtained by the Guardian under the Freedom of Information Act show that the TfL service served 39,560 crypto ads from 13 companies in the six months between April and September 2021.
Major advertisers include eToro, the floki trading platform – a “meme coin” named after Elon Musk’s dog – Crypto.com, and Luno Money, whose campaign tells people that “they’re not the only one.” “Time to buy” bitcoin banned by advertising regulators for being “irresponsible”