Britain's advertising watchdog clamps down on crypto firms

FILE PHOTO: A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) - Britain's advertising watchdog on Tuesday stepped up scrutiny of cryptocurrency ads, ordering more than 50 companies in the industry to tell consumers that digital assets are unregulated and volatile.

Cryptocurrencies have soared in popularity during the COVID-19 pandemic, with retail and institutional investors alike flocking to the asset class. But bitcoin and other tokens are mostly unregulated in Britain.