UK watchdog ramps up ‘red alert’ over crypto advertising

Regulators globally have sought to crack down on crypto ads, which have skyrocketed as digital assets gained mainstream appeal. — Bloomberg

The UK’s advertising regulator sent an enforcement notice to more than 50 companies that have promoted cryptocurrencies ahead of an impending clampdown on “misleading and irresponsible crypto ads” in the country.

The Advertising Standards Authority said the notice is meant to serve as a warning for businesses to review and clean up their ads over the next two months, after which tougher measures will be introduced to penalise rule breakers.