Crypto exchange ads under scanner; ASCI to soon issue guidelines
ASCI is looking into the issue after identifying it as an 'emerging area of concern'
The Advertising Standards Council of India (ASCI) is all set to issue the first set of guidelines for cryptocurrency exchanges.
The Secretary General of the advertising industry’s self-regulating body, Manisha Kapoor said, “Cryptocurrency is an emerging area of concern. ASCI is examining additional and fresh guidelines required to protect the interests of consumers through consultations with different stakeholders”, as per media reports.
“ASCI’s existing guidelines stipulate advertisers not be misleading or give false information or exploit consumers’ lack of expertise on the matter, but fresh guidelines are being formulated,” added Kapoor.
According to media reports, the development comes after Delhi High Court issued notices to market regulator Securities and Exchange Board of India (SEBI) and I&B Ministry based on a plea seeking to force cryptocurrency exchanges to advertising without running standard disclaimers which are otherwise required for most financial products.
