“The ASA banned Coinbase adverts concluding that they implied crypto could ease the country’s cost-of-living crisis.”, — write: www.coindesk.com
The ads, which were displayed in August, highlighted the financial pressures affecting some UK households and carried the phrase “If everything’s fine, don’t change anything” with Coinbase’s logo.
“By presenting the country as failing in areas such as the cost of living and home ownership, the ads implied to consumers that they should make a financial change,” the ASA said in its ruling. “Because the ads implied that cryptocurrency could be an alternative to the prevalent financial concerns associated with the cost of living, we considered that they trivialized the risks associated with cryptocurrency investment.”
The ruling highlights how UK regulators are monitoring messaging they believe downplays investment risks or presents digital assets as a solution to economic hardship. The Financial Conduct Authority (FCA) recently initiated a set of consultations on new rules for the industry to be implemented by October 2027.
The adverts from the US-based company include a satirical two-minute video showing people cheeringly singing “everything is just fine, everything is grand” as their home falls into a state of disrepair and suffers a power cut, while outside Britons gleefully dance through streets littered with rats and piles of overflowing bin bags.
“While we respect the ASA’s decision, we fundamentally disagree with the characterization of a campaign that critically reflects widely reported economic conditions as socially irresponsible,” a Coinbase spokesperson told CoinDesk.
The advertising watchdog told Coinbase the ads must not appear again in that same form and to ensure that future ads did not misrepresent the risks of crypto or imply they are a solution to financial concerns.
Coinbase’s spokesperson said they were not intended “to offer simplistic solutions or minimize risk.”
Coinbase believes that “while digital assets are not a panacea, their responsible adoption can play a constructive role in a more efficient and freer financial system,” they said. “Coinbase remains committed to authentic, thought-provoking communication and to operating responsibly within the UK’s regulatory framework.”
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The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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The asset manager argued that without federal legislation, the industry has three years to become indispensable before political winds potentially shift.
- Bitwise said in a blog post Monday that Polymarket odds for the Clarity Act have fallen from 80% to 50% following industry pushback.
- If the bill fails, Bitwise believes crypto must achieve mass adoption in stablecoins and tokenization to force a regulatory hand.
- The firm anticipates a sharp rally upon the bill’s passage, while a failure would likely lead to a “slower ascent” tied to proven utility.
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