wordpress blog stats
Connect with us

Hi, what are you looking for?

Guidelines: ASCI’s 12-point checklist for crypto and NFT ads

Spanning various ad formats, the minimum requirements laid down by ASCI was met with acceptance by crypto industry heads.

The Advertising Standards Council of India (ASCI), the advertising industry's self-regulatory body, issued guidelines for ads related to crypto products and platforms on February 23. These guidelines come after crypto platforms last year spent several crores in showcasing ads in front-pages of leading newspapers and in marquee events like the Indian Premier League and T20 World Cup, but had to pause the ad blitz after being rebuked by the Indian government for promising wild profits and for promoting crypto amidst regulatory uncertainty. Following this, ASCI held discussions with the government in December last year to overhaul guidelines around crypto advertising. In laying out the guidelines, ASCI noted: "Even as the Indian government continues to work on the framework for virtual digital assets (VDA), commonly referred to as crypto or NFT products, advertising for these products has been very aggressive over the past few months. The Advertising Standards Council of India (ASCI) noted that several of these advertisements do not adequately disclose the risks associated with such products. In order to safeguard consumer interest, and to ensure that ads do not mislead or exploit consumers’ lack of expertise on these products, ASCI has extensively consulted with different stakeholders including government and the virtual digital asset industry – to frame guidelines for virtual digital asset advertising." The new guidelines go into effect on April 1, 2022 and all earlier advertisements must not appear in the public domain unless they comply with the guidelines. However, ASCI is a self-regulatory body and its guidelines are not…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ