UK Regulator Bans Coinbase Ads Over Cost-of-Living Messaging
Britain’s Advertising Standards Authority (ASA) has banned a Coinbase marketing campaign, finding that four ads irresponsibly implied cryptocurrencies could solve widespread financial hardship. The August 2024 campaign included a satirical video and posters referencing issues like unaffordable housing and rising living costs, positioning Coinbase and crypto as alternatives to struggling financial systems. The ASA ruled that these ads trivialized the risks associated with crypto investments and must not appear again in their current form. Coinbase argued the campaign was clearly satirical and not financial advice, but the ASA emphasized the ads’ broad reach during a period of public financial stress, warning they could mislead vulnerable consumers. This ban adds to Coinbase’s previous marketing controversies and regulatory issues in the UK, including a recent fine for compliance failures related to high-risk customers.
