Coinbase ads banned in UK after suggesting crypto could ease cost-of-living pain The UK’s advertising watchdog has banned a Coinbase marketing campaign for implying that using its platform could be a response to the cost-of-living crisis — a move that spotlights ongoing regulatory sensitivity around crypto promotion. What happened The Advertising Standards Authority (ASA) ruled that a two-minute Coinbase video and three poster ads, which launched in August, were “irresponsible” and “trivialised the risks of cryptocurrency.” The video uses dark satire: people croon “everything is just fine, everything is grand” as their homes fall into disrepair, power cuts hit, rats and overflowing bins clog the streets, supermarket prices rise and jobs are lost. It closes with the line “If everything’s fine, don’t change anything” before cutting to the Coinbase logo. The billboards, displayed in busy locations including the London Underground and rail stations, carried headlines such as “Home ownership out of reach,” “Real wages stuck in 2008,” and “Eggs now out of budget,” with smaller repeating text reading “Everything is fine” and the same “If everything’s fine, don’t change anything” CTA alongside the Coinbase logo. Why the ASA objected The ASA said the ads risked presenting “complex, high-risk financial products as an easy or obvious response” to serious financial worries. It concluded the campaign used humour to reference real-life economic hardship while offering a cue to “change,” thereby downplaying the dangers of investing in volatile crypto assets. The regulator highlighted that neither the video nor the posters included any risk warnings, despite guidance from the UK’s Financial Conduct Authority (FCA) that crypto is “largely unregulated and high risk, and that buyers should be prepared to lose all of their money.” Broadcast and distribution Clearcast — the body that clears television ads in the UK — had already refused the video for TV, but the ASA found the clip was still being shown across multiple online platforms. The posters had been visible in high-traffic public transport hubs before the ban. Political ties and context Coinbase appointed former Conservative chancellor George Osborne to chair its global advisory council in December, after he had advised the company for two years. At the time, Coinbase said Osborne would play an “active role in helping us with policymakers around the world.” Osborne has publicly warned the UK risks missing out on future crypto growth and recently added a role at OpenAI to a portfolio that includes chairing the British Museum. Coinbase response A Coinbase spokesperson said the company “fundamentally disagree[s] with the characterisation of a campaign that critically reflects widely reported economic conditions as socially irresponsible.” The company defended the ad as intended to “provoke discussion about the state of the financial system and the need to consider better futures,” adding that while digital assets are “not a panacea,” their “responsible adoption can play a constructive role” and that Coinbase remains committed to operating within the UK’s regulatory framework. Why it matters The ASA’s decision underscores regulators’ low tolerance for advertising that could be seen as encouraging vulnerable consumers to view high-risk crypto products as straightforward solutions to financial problems. As crypto firms step up mainstream marketing, this ruling is likely to sharpen regulatory scrutiny over how digital-asset services are positioned to the public. Read more AI-generated news on: undefined/news

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