latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Independent review finds Arsenal fan token promotions ‘trivialized’ investment in crypto

Independent review finds Arsenal fan token promotions ‘trivialized’ investment in crypto
An independent review has upheld a UK Advertising Standards Authority (ASA) ruling against football club Arsenal, over online advertisements for its fan tokens following an appeal from the club.
In a statement on Wednesday, the watchdog said Arsenal had trivialized investment in cryptoassets and encouraged consumers to engage in high-risk investments without, in the case of one ad, mentioning the risks of paid-for fan tokens. 
The complaint relates to content published on Facebook and the club’s website in August 2021 promoting its fan token $AFC. The token, which granted holders voting rights for certain club decisions, could only be purchased on the Socios app using the company’s cryptocurrency Chiliz.
Several companies have attracted the attention of the ASA for their crypto-related ads over the last year, including Kraken and Coinbase.   The growing number of cases prompted the ASA to published guidance on crypto advertising in March that recommends companies make clear certain points about crypto assets, including that they are unregulated.
Arsenal told The Telegraph that they were disappointed with the result and had complied with the ASA’s guidance since the original ruling.
"We have been clear throughout that we take our responsibilities with regard to marketing to our supporters very seriously. In this situation we carefully considered the communications to supporters regarding our promotions and provided information regarding financial risks," said a spokesperson.
The price of Arsenal's $AFC token has waned from highs of $6.07 in November last year to $1.89 as of today, according to CoinMarketCap data.

[caption id="attachment_162684" align="alignnone" width="1130"] $AFC fan token price chart since debut. Credit: CoinMarketCap[/caption] © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Read the full Article:  ⭲ Independent review finds Arsenal fan token promotions ‘trivialized’ investment in crypto

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

SneakPeek Script
Setup, Upload and Go!