Cryptocurrency : Big News for Cryptocurrency Investors! Government issued guidelines, know from when it will be implemented

Crypto Advertising Guidelines: The Advertising Standards Council of India (ASCI) has issued guidelines for advertising of cryptocurrencies. 

Accordingly, from April 1, 2022, advertisers for crypto products and tokens will be required to provide a disclaimer stating that these products are unregulated and may be subject to high risk.

Cryptocurrency Ad Guidelines : Russia-Ukraine dispute has shaken the whole world market. From the stock market to the bullion market, the condition of the investors is shaky. There is also a fear among investors due to the fear of World War III.

Foreign capital has also started decreasing from the Indian market, meanwhile the Advertising Standards Council of India (ASCI) has issued guidelines for advertising of cryptocurrencies.

According to this guideline, from April 1, 2022, advertisers will have to provide a disclaimer (Cryptocurrency Ad Guidelines) for crypto products and tokens, which states that these products are unregulated and may carry high risk.

That is, now the disclaimer will also be mandatory with cryptocurrency. Also, such advertisements should also clearly state that the regulator will not be responsible for any loss arising from such transactions.

Guidelines issued for cryptocurrencies 

Let us tell you that all Virtual Digital Assets (VDAs) commonly known as Crypto or Non Fungible Tokens (NFTs). In this way, it will be mandatory to have a disclaimer written in the advertisements of all Virtual Digital Properties (VDA). Not only this, the old advertisements still running should not be aired or promoted after April 15.

After April 15, only advertisements made under the new guidelines will be valid. Actually, the popularity of cryptocurrencies in the market is continuously increasing. In such a situation, ASCI has issued this guideline after consultation with all the stakeholders, government and financial regulators.

ASCI President Subhash Kamath said, “There is a need for guidance for advertising virtual digital assets and services, noting that it is a new and emerging mode of investment. So consumers should be made aware of the risks and ask them to proceed with caution.

Know the main things of the guidelines

• It will be mandatory to give a disclaimer with all advertisements for digital assets issued from 1st April 2022.
•  It has to be clearly stated that crypto products or NFTs can be unregulated and very risky. No complaint can be made for the loss caused by the transaction related to it.
• This disclaimer should occupy at least 20 percent of the advertising space in print or static medium.
•  This disclaimer will be at the end of the advertisement and its font should be readable in plain background.
•  The disclaimer in audio ads for crypto must be read at the end of the ad.
• In this, the speed of voiceover will not be high, that is, it will be normal so that people can understand easily by listening to it.
• Social media posts will also be included within the scope of this guideline.
• Words like ‘currency’, ‘securities’, ‘custodian’ and ‘depositories’ will not be used in the advertisement.
• Generally, customers see these words being used with regulated products.
•  Advertising of Virtual Digital Assets may not depict a minor as trading in crypto products.
• Its trading will also not be allowed to be shown as a solution to the money problem. Advertisement does not promise or guarantee future profits.