The advertisements of the company Luno will be withdrawn from the United Kingdom after the resolution that obliges them to do so for misleading advertising.
Lido is a company based in Singapore but with a presence in much of the world. Its main activity is cryptocurrency exchange together with a wallet service.
In one of their advertising campaigns through advertisements on the British subway, they ran into the association in charge of ensuring responsibility for advertising. The UK’s Advertising Standards Authority (ASA) considers its latest campaign “truly irresponsible”.
In it, you can see the poster of “If you’re seeing bitcoin on the Underground, it’s time to buy” or what is the same, if you’re seeing Bitcoin underground, it’s time to buy. Performing a pun with the ad being in the underground and bitcoin in a strong correction.
The association explains that with this poster people are encouraged to think that investing in cryptocurrencies is simple and easy. Without warning of the high risks that market volatility entails and taking advantage of their probable lack of experience in the cryptocurrency market.
It seems that there were several alerts that this British association received. Many people consider cryptocurrencies a kind of casino similar to sports betting, which has also been very controversial in recent times.
While it is true that there are thousands of cryptocurrencies and that there are times of wild speculation. Investment in the main crypto assets does not seem in the long term to bear similarities to a Russian roulette.
The exchange has communicated that it will withdraw the ads without major problem and that in its next campaign they will take more into account the obligation to warn of the possible risks involved in investing in digital assets.