The British Advertising Standards Authority has banned bitcoin ads that contain the phrase “Time to Buy.” The supervisor considered her irresponsible. Writes about this The Guardian. Its authors were accused of using the gullibility of consumers.

Source: British Advertising Standards Authority

The regulator made the appropriate decision a week after the global fall of the cryptocurrency market. Then, within a day, bitcoin lost about 30% in price. As the ASA clarifies, the agency received a complaint that advertising does not illustrate the risks that buying and trading bitcoins entails. According to the authors of the complaint, the ad exploited the inexperience and gullibility of consumers.

“We understand that investing in bitcoins is a complex and volatile process that exposes investors to certain risks. This is in contrast to advertising. The announcement is seen by a wide audience, which probably has no experience in working with cryptocurrency “, – said in a statement from the regulator.

The collapse of cryptocurrencies happened on May 19. The incident was spurred on by Elon Musk, who announced the suspension of Tesla’s car sales for bitcoins. As a result, the price of the cryptocurrency dropped to $ 32 thousand. At the time of this writing, the digital coin has recovered some of its losses, rising to $ 39,1 thousand.