Britain bans cryptocurrency advertising by football clubs

The British regulator has recommended that football clubs refrain from advertising fan tokens in order not to mislead users and encourage them to make rash investments.

As it has become known, the UK Advertising Standards Authority has issued a warning to leading FCs: «We have recommended that football clubs make sure that they clearly state in the advertising message the variable cost of investing in fan tokens and that this asset class is not regulated as cryptocurrencies.»

Interestingly, last week, the UK Financial Conduct Authority approved stricter rules to combat misleading advertising related to high-risk investment products. However, cryptocurrencies were not included in this list. The new advertising requirements will not apply to digital assets because control over cryptocurrencies is not within the regulator’s scope of authority. However, the government promised to resolve this issue in the near future.

As a reminder, it also became known today that the American company Mailchimp announced the termination of advertising on cryptocurrency platforms. Having canceled cooperation with the Decrypt website, Mailchimp representatives stated that in addition to advertising crypto platforms, the ban also applies to any sites that talk about virtual assets or encourage their purchase.