UK advertising watchdog bans Floki ads

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Updated September 21, 2022 | Published March 4, 2022

2 mins read

The UK Advertising Standards Authority (ASA) has banned a crypto announcement on London’s public transport, stating: “MISSED DOGE, GET FLOKI”, since last November.

Floki originates from the meme coin Floki Uni created last June. According to the (ASA), the campaign was deemed irresponsible because it “exploited customers; fears of missing out and trivialized investment in cryptocurrency”.

The campaign was signed off by the Committee of Advertising Practice, according to Floki, however the ASA concluded that “the ad must not appear in the form complained about”.

It is not the first time that UK authorities have cracked down on crypto advertisements, in May the ASA banned a campaign not dissimilar to the one promoting Floki.

A campaign led by the crypto exchange Luno displayed on the London Underground system read: “If you're seeing Bitcoin on the Underground, it's time to buy”.

Sian Berry, a Green Party London Assembly member, asked for a general ban on all cryptocurrency advertisements in November 2021. She said: “Where the advert says ‘this is completely unregulated, you may lose all your money,' they [advertisers] ought to have had second thoughts”.

It isn’t just public transport that rubs the ASA the wrong way. Since clubs in the English Premier League have been joining the crypto wave, the regulators have banned two different advertisements from Arsenal FC promoting the club’s fan-token AFC.

Furthermore, it has been highlighted that “ads trivialized investment” in crypto, also stating that they have “failed to illustrate the risks” involved.

In the meantime, to enjoy cryptocurrencies online, you can head to Bitcasino, 1xBit or FortuneJack.

 

Looking for your next crypto casino? Check out: Bitcasino, Gamb.co or FortuneJack.

Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.
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