According to BBC reporting, the Advertising Standards Authority (ASA) is reviewing adverts for the Floki Inu (FLOKI) cryptocurrency that were posted on public transit in London. Indeed, the Advertising Standards Authority is examining "a large body of commercials in this area" to see if they are in violation of advertising standards. Despite the fact that the team behind the Floki Inu cryptocurrency marketing campaign claimed to have been "legally certified." The creators stated:
"A prominent notice underlining the volatility of cryptocurrency is also included in these advertising."
Concerns about the token's authenticity
Concerns about the crypto token's authenticity arose after no information about its creators could be located online; nevertheless, Floki Inu notified the BBC in an email:
"We purposefully did not prominently showcase team members on our website to emphasize that Floki is the people's coin and a movement centered on them."
It stated that its "legal company" was situated in Georgia, and that during know-your-customer checks, it had shared this information with "strategic partners."
Jackie Xu, who lives in the Netherlands, is Floki's chief developer, according to the email. The email went on to say:
"The Floki team isn't fully anonymous, as some have claimed, but some of our team members have chosen to remain unknown temporarily to avoid distractions and for security concerns."
TFL has called for a ban on crypto advertisements.
Following the end of a three-week poster campaign by Floki, Transport for London (TfL) was requested to limit marketing for unregulated financial products. The public transit operator in the United Kingdom's capital has indicated that there have been no significant complaints concerning crypto advertisements.
However, several British lawmakers have raised concerns that the TFL should not have allowed the Floki Inu adverts. Siân Berry, a member of the Green Party's London Assembly delegation, posed the following question to Sadiq Khan, the mayor of London:
"They should have paused when the advertisement stated, 'This is absolutely unregulated; you may lose all of your money.' Cryptocurrency adverts should not be on the network, in my opinion. They're dishonest."
What is Floki, exactly?
Floki Inu is a cryptocurrency named after Tesla (NASDAQ: TSLA) CEO Elon Musk's Shiba Inu dog; Musk has been called "the Dogefather" as a consequence of his support for the meme cryptocurrency Dogecoin, which includes a Shiba Inu as its mascot. "My Shiba Inu will be named Floki," Musk posted on Twitter on June 25. On September 12, Tesla CEO Elon Musk reacted with a tweet that stated, "Floki has finally arrived." FLOKI users can choose between an ERC20 and a BEP20 coin.
Scams involving cryptocurrency
After Kim Kardashian was paid to promote Ethereum Max, a token that had been launched a month earlier by unknown developers, the head of the Financial Conduct Ability (FCA), Charles Randell, called on ministers to grant the FCA the authority to supervise crypto-assets.
Following the introduction of the Netflix (NASDAQ: NFLX) series Squid Game, a cryptocurrency based on the program gained considerable attention at the end of October, causing its value to skyrocket by 310,000 percent in a single day, hitting $2,856, according to CoinMarketCap. A few days later, the SQUID token's value plummeted to zero in minutes as the mysterious crooks who created it fled with a claimed profit of at least $2 million.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.