Floki Inu Cryptocurrency Ads Under Investigation in UK – Bitcoin News

The UK Advertising Authority has launched an investigation into floki inu (FLOKI) cryptocurrency ads. Ads titled “Fat Doggy? Get Floki,” appeared on London buses and undergrounds. The team behind the floki inu ad campaign says the ads are “legally approved,” and that the ad agency’s action is an “attack on cryptocurrency and against people’s freedom of choice – an apparent attempt at censorship.”

UK Advertising Authority investigates ads for Floki Inu Cryptocurrency

The Advertising Standards Authority (ASA), the UK’s advertising regulator, is investigating advertisements placed on public transport in London for the cryptocurrency floki inu (FLOKI).

Floki inu is the cryptocurrency named after Tesla CEO Elon Musk’s Shiba Inu dog. Musk has been dubbed the godfather for his support of the dogecoin (DOGE) meme digital currency. He tweeted on June 25, “The shiba inu will be called Floki.” The Tesla boss followed up with a tweet on September 12 in which he said, “Floki has arrived.” FLOKI contains both an ERC20 token and a BEP20 token.

floki inu ads have been seen on London buses and in tube stations. Ads feature “Missed Doge? Get Floki” in a big, bold font.

The team behind floki inu’s crypto ad campaign said the ads were “legally approved”. They told the BBC:

These ads also include a clear disclaimer highlighting the volatility of cryptocurrencies.

While Transport for London (TFL), the capital’s transport operator, has said there have been no widespread complaints from the public about cryptocurrency ads, some UK politicians have expressed concerns that the TFL should not approve of floki inu ads.

The mayor of the London office said, “The TFL is writing to the ASA and the Financial Conduct Authority (FCA) to seek their views on the concerns raised.” A member of the London Green Party Assembly, Sian Berry, told the Guardian:

This should have raised a red flag, and someone at the TFL should have looked into this before it was approved.

The team behind the floki inu ad campaign told the BBC in an email:

The attack on these ads by a particular political party is an attack against cryptocurrency and people’s freedom of choice – an apparent attempt at censorship.

Over the summer, the ASA banned an advertising campaign for cryptocurrency exchange Luno, which runs on TFL. The announcement stated that it was “time to buy” bitcoin.

In a statement to the BBC, the ASA said it was looking at various ads for cryptocurrencies, including those of floki inu, across “different media spaces,” not just TFL. “We will assess whether these ads violate our rules and use our findings to inform our regulations in this area, including any follow-up enforcement actions,” the authority described.

What do you think of the investigation into Floki inu (FLOKI) cryptocurrency ads? Let us know in the comments section below.

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