Share this article
Another Crypto.com Ad Banned by UK Advertising Regulator
The company also had two ads banned in January for being misleading.
Updated Dec 21, 2022, 7:02 p.m. Published Dec 21, 2022, 4:10 p.m.
Crypto exchange Crypto.com had a Facebook ad banned by the U.K.'s Advertising Standards Authority (ASA), falling foul of the industry's self-regulatory organization for the second time this year.
The ad for Crypto.com NFT was seen on the social media platform in July. NFTs, or non-fungible tokens, are unique tokens on the blockchain tied to real-world assets. The ASA took issue with the ad because it did not illustrate the risk of investing in NFTs and didn’t make clear that fees would apply, it said Wednesday.
STORY CONTINUES BELOW
In January, the ASA banned two of the company's ads, saying they were considered to be misleading and irresponsible, taking advantage of consumers’ “inexperience or credulity” and failed to make clear that crypto investments aren’t regulated in the U.K. Crypto.com received Financial Conduct Authority (FCA) approval to operate in the country in August.
"Because the [Facebook] ad did not include any risk warning making consumers aware that the value of NFTs could go down as well as up, or that they were an unregulated crypto asset we concluded that the ad was misleading," it said. "We told Foris DAX Global Ltd t/a Crypto.com that their advertising must make clear the risks of NFTs ... . They should also not omit material information regarding fees and charges on their platform."
In a submission to the authority, the exchange pointed out that the ad was no longer live and that it promoted the trading platform, not a specific NFT. Therefore, it said, "it would be unreasonable to request that the specific ad include limitations or qualifications regarding the risk of investing in NFTs," according to the ASA's statement. Further, the ad referred to only to buying NFTs, which are fee free, and so "the need to mention fees in the ad was not relevant and any qualification would only confuse consumers."
Crypto.com declined to comment further than the responses in the report.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Iran accepts cryptocurrency as payment for advanced weapons
Prospective customers could purchase weapons such as missiles, tanks and drones using crypto, according to a government website.
What to know:
- Iran's Ministry of Defence Export Center is accepting cryptocurrency payments for advanced weapons systems as a means of bypassing international sanctions that the country faces.
- The offer is among the first known instances of a country accepting cryptocurrency as a means of payment for military equipment, according to the Financial Times.
- The facility for using cryptocurrency to pay for transactions involving sanctioned countries is already well established.
Top Stories
