The Advertising Regulatory Board of South Africa has recently released new guidelines for crypto advertisements, aimed at ensuring that potential investors are fully informed of the risks associated with investing in digital currencies. The guidelines dictate that companies, celebrities, and influencers who promote crypto-related products and services must clearly and expressly state that investing in crypto assets may result in financial loss. This warning must be prominently displayed in any advertisement and must be worded in a way that is easily understood by the general public.
The directive also emphasizes the importance of balance in crypto advertisements, stating that they must be presented in a fair and objective manner, avoiding any misleading or exaggerated claims. The guidelines prohibit the presentation of past performance in a way that creates a favourable impression of the advertised product or service. Instead, they should provide a clear and accurate picture of the potential risks and rewards.
Furthermore, the guidelines also address the role of influencers and ambassadors in crypto advertising. These individuals are only allowed to share factual information and are prohibited from offering advice on trading, investing in crypto assets, or making any promises of benefits or returns. This is to ensure that the public is not misled by the opinions of these individuals who may not be experts in the field of crypto and may not fully understand the risks involved.
Crypto Ads Suffer a Decline
Overall, these new guidelines are a step in the right direction to protect the public from potential financial loss due to crypto investments. By requiring clear and balanced advertisements, the Advertising Regulatory Board of South Africa is helping to ensure that investors are fully informed and able to make informed decisions about their crypto investments.
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