Share this article
Crypto App Luno Ordered to Amend 'Misleading' Ads
The U.K.'s advertising regulator said the ads gave the impression that bitcoin investment is simple, when it is in fact "complex" and "volatile".
Updated Sep 14, 2021, 1:02 p.m. Published May 26, 2021, 11:33 a.m.
Cryptocurrency app Luno has been ordered to amend advertisements displayed throughout London's transport network after they were deemed "misleading" by the U.K. advertising regulator.
STORY CONTINUES BELOW
- Ads for the London-based exchange have been common sights at the city's bus and Underground stations since last year, telling passengers: "If you're seeing Bitcoin on the Underground, it's time to buy."
- The Advertising Standards Agency (ASA) said Wednesday that the ads "gave the impression that bitcoin investment was straightforward and accessible," when it is in fact "complex, volatile, and could expose investors to losses".
- "We therefore concluded that the ad was misleading," the ASA concluded. Luno has agreed that future ads will take a different form and feature an "appropriate" risk warning.
- The ASA's investigation came after receiving three complaints stating that the ads failed to illustrate the inherent risks of bitcoin investment. One also asked whether the ad was taking advantage of consumers' inexperience.
- Luno, which has 7 million customers worldwide, is a subsidiary of Digital Currency Group (DCG), the parent company of CoinDesk.
Read more: DBS Says Bitcoin Affects Stock Markets, Is ‘No Longer Fringe Asset’
Mehr für Sie
Was Sie wissen sollten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mehr für Sie
Citadel Securities and DeFi Waging War of Words Through SEC Correspondence
The investing giant had asked the U.S. Securities and Exchange Commission to treat DeFi players like regulated entities, and the DeFi crowd pushed back.
Was Sie wissen sollten:
- A feud conducted over U.S. Securities and Exchange Commission (SEC) correspondence has developed between Citadel Securities and the DeFi sector, arguing over whether DeFi protocols should be more regulated.
- The DeFi space is calling out the investment firm for its approach to the securities regulator.
Top Stories
