Some officials and legislators branded this type of campaign as “Unethical”, especially in the case of a token like Floki rated as a memecoin.
After the publication of publicity about the token Floki inu on one of the iconic London city buses, the British authorities have asked the responsible companies to no longer allow cryptocurrency advertisements on the vehicles’ infrastructure.
This was revealed by the British authorities in reports published by various media, where they reported that they consider this practice “unethical” and that all brands associated with cryptocurrencies that wish to advertise their products should go through a much more exhaustive investigation.
In this regard, the director of commercial media of the local government body, Chris Reader, commented:
“We ensure that campaigns contain sufficient information to comply with both our policy and ASA regulations”
The controversy with the token Floki
According to published reports, the controversy arose because a means of transport advertised the memecoin “Floki Inu”, one of many coins inspired by Dogecoin which is based specifically on the mascot of the CEO of Tesla, Elon Musk.
The ad in question said this
$ DOGE lost? Get $ FLOKI
– Jake Kreuz (@JakeKreuz) November 12, 2021
This slogan also appeared in some of the London Underground stations last October, in what some described as a very daring marketing campaign aimed at the British public. However, the axis of criticism was in the lack of credibility about the token in question, which could even be considered a risky bet given that there are no real guarantees about the future of the digital currency beyond being a very speculative asset. volatile.
In this regard, the member of the Assembly for the Green Party in London, Sian Berry, criticized these types of acts in general as unethical, since there are no advertisements here that warn people about the risks involved in entering this market , especially in the absence of effective regulations to address them.
Cryptocurrency ads in London
However, despite the fact that the controversy points to the fact of advertising the token Floki Inu, Other cryptocurrencies have also been publicized in the past.
Given this, the HANDLE It also banned the ads at the time and warned about the risks they pose for investors with no experience in the crypto market.
In one of the statements related to a cryptocurrency called Moon, the HANDLE commented:
“We concluded that the announcement irresponsibly suggested that engaging in Bitcoin investment through Luno was straightforward and easy, especially since the audience is targeted, the general public, probably inexperienced in their understanding of cryptocurrencies. ”.
Version by Angel Di Matteo / DailyBitcoin
Picture of Unsplash