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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Advertising Standards Council of India has released dos and don’ts for any ad on “virtual digital assets”. How does that play out?
Editor's note: They’re everywhere. On your phone, all over social media and even your morning paper. There isn’t anyone today who hasn’t seen a crypto advertisement somewhere. In fact, crypto firms were able to sell you claims about outlandish returns, all without any accountability. The Advertising Standards Council of India is clearly unhappy with that. Today, ASCI released a set of guidelines for ads related to “virtual digital assets'', effective 1 April. Given how crypto investments and products are picking up across India, we decided to break our regular publishing schedule and put out this note. A few key points in ASCI’s guidelines: All advertisements related to virtual digital assets in any medium—print, television, radio, digital or social media—must carry a disclaimer saying, “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.” The words “currency”, “securities”, “custodian” and “depositories” can’t be used.Ads should not claim crypto/digital assets are in any way a solution to “money problems, personality problems or other such drawbacks”.No promise of any future gain or profit.No …
The Advertising Standards Council of India has released dos and don’ts for any ad on “virtual digital assets”. How does that play out?
Editor's note: They’re everywhere. On your phone, all over social media and even your morning paper. There isn’t anyone today who hasn’t seen a crypto advertisement somewhere. In fact, crypto firms were able to sell you claims about outlandish returns, all without any accountability. The Advertising Standards Council of India is clearly unhappy with that. Today, ASCI released a set of guidelines for ads related to “virtual digital assets'', effective 1 April. Given how crypto investments and products are picking up across India, we decided to break our regular publishing schedule and put out this note. A few key points in ASCI’s guidelines: All advertisements related to virtual digital assets in any medium—print, television, radio, digital or social media—must carry a disclaimer saying, “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.” The words “currency”, “securities”, “custodian” and “depositories” can’t be used.Ads should not claim crypto/digital assets are in any way a solution to “money problems, personality problems or other such drawbacks”.No promise of any future gain or profit.No …
There’s no such thing as a free lunch, and Hamster Kombat players have had to learn this the hard way.
Since the $234 million hack in July, the blame game has shifted from WazirX to its wallet provider and even Binance. But it is users who are caught in the crossfire.
The crypto exchange, which faced a massive cyberattack earlier this month, has adopted a ‘socialized loss strategy’, much to its users’ chagrin.
There’s no such thing as a free lunch, and Hamster Kombat players have had to learn this the hard way.
Since the $234 million hack in July, the blame game has shifted from WazirX to its wallet provider and even Binance. But it is users who are caught in the crossfire.
The crypto exchange, which faced a massive cyberattack earlier this month, has adopted a ‘socialized loss strategy’, much to its users’ chagrin.
