Celebrities were in the spotlight of UK authorities clamping down on crypto ads.
The United Kingdom’s independent advertising regulator has upheld a complaint involving former reality show Love Island contestants Eve and Jessica Gale for “triviali[zing] investment in cryptocurrency.”the reality stars promoted crypto in an Instagram story in June at the request of an influencer named Elizabeth O'Donell and upheld claims the ad was “misleading” and “irresponsible.
The regulator said because the ads were not “prepared with a sense of responsibility,” they violated the U.K. Code of Non-broadcast Advertising, Sales Promotion and Direct Marketing, adding the Gales’ story did not mention the possibility crypto prices “could go down as well as up” as well as their largely unrelated status in the United Kingdom.
In its ruling, the ASA said the Gales could not post the crypto ads “in the form complained about” again, but did not bar the twins from promoting digital assets in future advertisements on social media. At the time of publication, Jessica and Eve Gale had a combined following on Instagram of more than 1.7 million accounts.
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