Sian Berry, a well-known member of the London Green Assembly, called for a ban on advertising cryptocurrencies inside the city subway stations. The request is due to the appearance of announcements regarding Floki inu, an advertising campaign that has been running for three weeks now.
To induce the politician to formulate it is in particular the fact that digital assets are not yet regulated within the UK. Berry himself also added that he believes that advertisements regarding cryptocurrencies are unethical. An announcement which seems to resemble the classic declaration of war of a part of the politics towards the whole sector.
Floki Inu: what happened
Floki Inu is one of many coin meme born on the wave of the great success of Dogecoin. If the most famous Doge killer is Shiba Inu, also Floki Inu, which takes the name of Elon Musk's dog, has garnered great interest on the market. Enough to give life to a rally higher than 200% in just 24 hours, in the past month.
Just a few days before that sensational growth, its creators had decided to launch an advertising campaign inside the London Underground. Focused on announcements inviting those who missed the appointment with the Dogecoin to remedy, focusing on Floki Inu: "Missed DOGE? Get Floki". However, the move in question has sparked a long series of controversies.
Crypto ads don't have a lot of luck in the UK
For some time now, in the United Kingdom, the repression of the bodies responsible for the damage of advertisements has been underway crypto. In particular, it is theAdvertising Standards Authority to undertake to do so. In May, the ASA had already taken steps to ban a campaign of Luno defined as irresponsible. The offending message was then the following: "If you're seeing Bitcoin on the Underground, it's time to buy". According to those in charge of the authority, investing in Bitcoin would be complex, volatile and therefore capable of exposing investors to losses. A possible outcome completely contrary to the announcement.
The same attitude reserved two months before a Coinflo is, the announcement of which was deemed dangerous for retirees. And which now seems destined to be re-proposed on similar occasions. It was to remember it Miles Lockwood, responsible for complaints and investigations at the SAA, who stated that any ad that creates problems will be repressed not only harshly, but also quickly.
Cryptocurrency advertising may now be banned in the UK
The request formulated by Sian Berry, could now give the right to the Advertising Standards Autorithy for a decisive answer, namely the final ban on digital money ads across the UK.
While it is true that cryptocurrencies are not subject to regulation, any such announcement, in fact, could be considered misleading. Unless, in the meantime, the government decides to intervene by issuing an ad hoc regulation. An intention which, however, at least until now has never been expressed.
Of course, the cryptographic companies operating within the country are watching what is happening with great interest. If the Brexit had been followed byfarewell to the City of 440 companies operating in the banking and financial sectors, even a ban on virtual currencies or a regulation considered punitive could have the same effect. All that remains is to follow the developments of the issue in the coming weeks.