UK advertising watchdog pulls Coinbase ads over concerns it was ‘socially irresponsible’

The UK’s Advertising Standards Authority (ASA) has taken decisive action against cryptocurrency exchange Coinbase, banning several of its advertisements after concluding they were ‘socially irresponsible’ and misleading. The ruling, part of a wider regulatory sweep targeting crypto firms, found that Coinbase’s promotional materials—which included Facebook ads, paid search listings, and outdoor posters—failed to clearly warn consumers about the inherent risks of investing in highly volatile digital assets.

One advertisement specifically cited by the ASA used phrasing such as ‘Get $5 in Bitcoin in minutes,’ which the watchdog argued trivialized the investment process and encouraged impulsive purchasing. The ASA determined that the ads targeted the general public, many of whom lack the necessary financial knowledge to understand the risks involved, thereby exploiting their lack of experience.

The watchdog explicitly stated that the advertisements breached CAP Code rules concerning social responsibility and misleading advertising. Crucially, the ASA highlighted the failure to include adequate warnings that cryptocurrencies are unregulated in the UK and that the value of investments can go down as well as up.

Following the ruling, Coinbase has been ordered to ensure that all future advertisements prominently feature clear, unambiguous risk warnings, and must not imply that investing in cryptocurrency is simple, low-risk, or a quick way to achieve profit.

Source: UK advertising watchdog pulls Coinbase ads over concerns it was ‘socially irresponsible’