UK advertising monitoring examines Mem Coin 'Floki Inus Marketing Blitz in London

The British advertising supervision examines the marketing of "Meme" Coin 'Floki Inu in London's trains and buses, since the government is exposed to increasing pressure to set closer limits for crypto advertising campaigns in public transport.

The advertising standards Authority announced the Financial Times that it had initiated a formal examination whether the advertising campaigns for Floki Inu, a digital coin inspired by Elon Musk Hund, injured the British marketing standards.

The decision of the regulatory authority comes when several members of the London Assembly, which supervises the city of the city, support claims for a ban on crypto advertising for public services or a review of the review of these marketing campaigns by transport for London.

A spokesman for the Mayor of London Sadiq Khan, chairman of the TFL, said that the government agency, which operates the city's subway and bus network, asked both the ASA and the Financial Conduct Authority to "" to affect their views ".

"As soon as TFL has this input, you will consider which measures may be necessary in the future," they added.

Floki Inus Marketing-Blitz appeared last month in the entire transport system of the capital with ads with the slogan "Missing Doge? Get Floki" injects in subway stations and trains as well as on buses. The campaign, one of several that was initiated by digital token operators for TFL services this year, underlines how crypto outfits are trying to use the growing enthusiasm for trade with digital assets.

The display of most cryptocurrencies do not fall into the scope of the British special rules for the advertising of financial products that are supervised by the FCA and are instead supervised by the ASA, a self -regulatory authority in the industry.

The ASA announced that after a review, it examined "some aspects" of the floki ads, but refused to indicate "details of impairing the investigation". Floki Inu said his London advertisements corresponded to “all laws and regulations. The ads were approved by the judiciary and the responsible authority that implemented the ads.”

TfL said that all crypto ads are already subjected to an additional review and that liability exclusions have to be included, and that the floki ads were deleted by the ASA copy consulting service. The service enables advertisers to "check how their potential non-broadcast ads cut off with the relevant marketing rules," said the ASA.

Members of the Liberal Democrats and Greens in the London meeting said this week that TFL should no longer accept crypto advertising until the British government and the FCA have set new guidelines on cryptocurrency advertising. The Labor Party, the largest group of the meeting, asked TFL to check the crypto displays more precisely.

Two conservative members said TFL should continue his current approach. "It is tempting to forbid things if they suspect that people make the wrong decision, but if they take adults the freedom of choice, they will ultimately be infantilized," said Andrew Boff, member of the meeting.

The British Ministry of Finance proposed in July 2020 to apply the stricter rules for financial advertising to most cryptocurrencies. The Ministry of Finance has announced that it will publish its response to a consultation on the rule change until the end of the year.

Elly Baker, a member of the London Assembly and Transport Spokeswoman for Labor, said that the situation in London is reflected in "the failure of the government to regulate the advertising for cryptocurrencies nationally".

The current rules create a "crazy anomaly between the way in which crypto companies can advertise, and the comparatively high demands on companies that ultimately produce more vanilla-mainstream system," noted Holly Mackay, managing director of the personal financial consultancy Boring Money.

According to Coinbase data, the price of Floki Inu has increased by more than 5,000 percent since summer.