Arsenal Football Club and ASA have dispute over “irresponsible” encrypted advertising

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The Agency for Advertising Standards (ASA), the agency that oversees advertising in the UK, is cracking down on non-compliant encrypted advertising.

Earlier this year, Arsenal became one of many football clubs cooperating with blockchain companies Chiliz and launch fan tokensOn August 12 this year, the club promoted its fan token AFC on its official Facebook page, which was banned by the ASA for allegedly violating its advertising rules. The agency stated that the post did not emphasize the risks involved in investment.

In another incident, according to the BBC ReportThe monitor claimed that the content themes on Arsenal’s official website-especially the page published on August 6, 2021, with the title “$AFC Fan Token: Everything You Need to Know”-violated advertising rules.

According to the advertising regulator, both advertisements are irresponsible, taking advantage of consumer inexperience while despising crypto investment. The BBC quoted an official of the Arsenal Football Club as saying, “We take our responsibility to the fans seriously,” adding that they have assessed all communications with the fans regarding the offer and provided information on financial risks. information.

The ASA’s latest regulatory action adds to a series of similar decisions made earlier this year, as the agency has been actively tracking down and shutting down misleading cryptocurrency advertisements.Independent advertising agencies have recently deleted some cryptocurrency-related advertising campaigns by some major industry players, including Coinbase and KrakenIt stated that these advertisements “irresponsibly exploited consumers’ inexperience and failed to explain investment risks”.

In May, ASA cancelled Luno Exchange advertising campaign, This is a picture of Bitcoin (Bitcoin) Use it on a subway poster to say: “If you see Bitcoin on the subway, it’s time to buy it.”

Arsenal is one of the top football clubs Cooperation with blockchain companies Create a fan token. West Ham United-a Premier League football club based in London-teamed up with the blockchain platform Socios.com to launch a fan token ecosystem in 2019.

The Bundesliga giant Bayern Munich is no stranger to blockchain projects and cooperated with Stryking Entertainment last fall Create a digital collection of its players.