{"id":43236,"date":"2021-05-26T16:38:05","date_gmt":"2021-05-26T13:38:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=43236"},"modified":"2025-08-31T02:44:34","modified_gmt":"2025-08-30T23:44:34","slug":"british-regulator-finds-lunos-advertising-misleading","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/british-regulator-finds-lunos-advertising-misleading\/","title":{"rendered":"British regulator finds Luno&#8217;s advertising misleading"},"content":{"rendered":"<p>The cryptocurrency exchange Luno received a directive to amend advertising placed on London\u2019s transport network. The UK&#8217;s Advertising Standards Authority (ASA) ruled the marketing materials to be &#8216;misleading&#8217;.<\/p>\n<p>In 2020, Luno and Coinfloor placed advertisements at London Underground stations, on buses and at bus stops.<\/p>\n<p><script async src=\\\"https:\/\/telegram.org\/js\/telegram-widget.js?15\\\" data-telegram-post=\\\"forklog\/16506\\\" data-width=\\\"100%\\\" data-single><\/script><\/p>\n<p>In ASA&#8217;s view, Luno&#8217;s advertising creates the impression that investing in Bitcoin is simple and accessible, whereas, in reality, investments in Bitcoin are complex, volatile and can lead to losses.<\/p>\n<p>The Bitcoin exchange agreed to amend its marketing materials by adding risk warnings.<\/p>\n<p>The regulator opened an investigation following four complaints. Three complainants found the adverts misleading. Another alleged that the company was taking advantage of consumers&#8217; lack of relevant experience.<\/p>\n<p>Coinfloor <a href=\\\"https:\/\/www.asa.org.uk\/rulings\/coinfloor-ltd-a20-1086982-coinfloor-ltd.html\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener nofollow\\\">received<\/a> a similar ruling in March 2021. The exchange likewise agreed to amend its marketing materials.<\/p>\n<p>Earlier, London was flooded with advertising <a href=\"https:\/\/forklog.com\/en\/news\/london-swamped-by-ads-for-controversial-cryptocurrency-hex\">for the controversial cryptocurrency project HEX<\/a>. The adverts appeared during Premier League matches, as well as on buses and taxis.<\/p>\n<p>In September 2020, the company <a href=\"https:\/\/forklog.com\/en\/news\/digital-currency-group-buys-cryptocurrency-exchange-luno\">Digital Currency Group, Barry Silbert, bought Luno<\/a>. The parties did not disclose the financial terms of the deal.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Luno received a directive to amend advertising placed on London\u2019s transport network. The UK&#8217;s Advertising Standards Authority (ASA) ruled the marketing materials to be &#8216;misleading&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[516,1929,36],"class_list":["post-43236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-advertising","tag-luno","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/43236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=43236"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/43236\/revisions"}],"predecessor-version":[{"id":43237,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/43236\/revisions\/43237"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=43236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=43236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=43236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}