Thailand cracks down on cryptocurrency ads

Thailand's Securities and Exchange Commission (SEC) has implemented new rules on advertising for cryptocurrency companies as the industry faces more scrutiny.

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This is according to Reuters which reported that the new rules mean cryptocurrency companies must clearly show investment risks in their marketing and advertisements and must show a balanced view of potential risks and returns.

Cryptocurrency companies in Thailand advertise on billboards and in digital media.

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According to Outlook the Advertising Standards Council of India (ASCI) also published guidelines on crypto advertisements earlier this year.

One of the 12 guidelines states that cryptocurrency companies must disclose and include warnings about the potential risk of asset class, the same way the mutual fund industry in the country discloses risks in its advertisements.