The Advertising Stands Council of India (ASCI) released a set of 12 guidelines for promotions and advertisement of virtual digital assets (VDA), including cryptocurrencies, on Wednesday.

Source: cointelegraph.com

The chief advertising watchdog has developed the new guideline after extensive consultation with the stakeholders of the crypto ecosystem as well as the government, ASCI said. The advertising guidelines also mark the first legal framework related to the digital asset market in the country at a time when the government is yet to finalize the crypto bill.

The new crypto advertising framework is set to come into effect starting April 1, the same date when the infamous 30% tax on crypto is set to come into effect. Let us look at five key takeaways from the guidelines that would detainment to the future of content in advertisements of the crypto firms.

  1. All crypto advertisements post-April 22 must add a disclaimer to explain crypto and NFT products are unregulated and “can be highly risky.” The disclaimer must be shown in all dominant languages.
  2. It is not allowed to compare a crypto asset to the regulated assets in the ad.
  3. Crypto ads must refrain from using “currency,” “securities,” “custodian,” and “depositories” while referring to their products or services.
  4. Crypto advertisements shouldn’t portray their products as a solution to money problems in any way or form.
  5. Crypto advertisements talking about profitability must contain clear, accurate, sufficient and updated information.

The advertising council also specified print size for disclaimers and how it should be broadcasted via different social mediums. Siddharth Sogani, CEO of blockchain analytical firm Crebaco told Cointelegraph:

“This is a great move by the concerned regulators and it is always good to have disclaimers that offer better insight into the market rather than being propagated as “get rich quick scheme”.

Sogani went on to add that the new crypto advertisement guidelines also hint at better crypto frameworks in the future and show that the government is taking in the viewpoint of stakeholders to regulate better.

Aggressive crypto advertisements were the theme of Indian media for the majority of the last two quarters of 2021, owing to the bull market and Indian crypto exchanges seeing a great influx of new users. This led to the Delhi high court notifying government to formulate appropriate guidelines and disclaimers in July last year.

156 Replies to “Five key takeaways from the official Indian crypto ads guideline”

  1. Great items from you, man. I have understand your stuff prior to and you are simply extremely great. I really like what you have received here, certainly like what you’re stating and the best way in which you say it. You make it enjoyable and you still care for to stay it sensible. I can not wait to learn much more from you. That is actually a wonderful web site.

  2. Hello, you used to write excellent, but the last few posts have been kinda boring?K I miss your super writings. Past several posts are just a little out of track! come on!

  3. Pingback: spytostyle.com
  4. Pingback: Leandro Farland
  5. The very next time I read a blog, Hopefully it won’t fail me just as much as this particular one. After all, Yes, it was my choice to read through, nonetheless I actually thought you would have something useful to talk about. All I hear is a bunch of moaning about something you could possibly fix if you were not too busy looking for attention.

  6. May I simply say what a relief to uncover a person that truly understands what they are talking about over the internet. You certainly realize how to bring an issue to light and make it important. More and more people ought to check this out and understand this side of your story. I was surprised that you aren’t more popular given that you surely have the gift.

  7. Iím amazed, I must say. Seldom do I encounter a blog thatís both educative and entertaining, and without a doubt, you have hit the nail on the head. The issue is something too few people are speaking intelligently about. Now i’m very happy that I came across this during my hunt for something relating to this.

  8. An interesting discussion is worth comment. I believe that you need to write more about this topic, it might not be a taboo matter but usually people don’t talk about such topics. To the next! Cheers!!

Leave a Reply

Your email address will not be published.