Bitcoin news Floki Inu Cryptocurrency Ads Under Investigation in UK

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The U.K.’s advertising agency has launched an investigation into advertisements promoting the cryptocurrency flokiinu (FLOKI). “Missed Doge?” are the ads. The ads, titled “Missed Doge,” were seen on London’s underground and buses. The team behind the floki inu ad campaign says the advertisements are “legally cleared,” and the advertising authority’s action is “an attack against cryptocurrency and against the people’s freedom of choice — a clear attempt at censorship.”

Bitcoin news UK’s Advertising Authority Investigating Ads for Floki Inu Cryptocurrency

The Advertising Standards Authority (ASA), Britain’s regulator of advertising is currently investigating advertisements on London public transport for the cryptocurrency flokiinu (FLOKI).

Floki Inu is the cryptocurrency named for Tesla CEO Elon Musk’s Shiba Inu dog. Musk is known as the Dogefather because he supported the meme cryptocurrency dogecoin. He tweeted on June 25, “My shiba inu will be named Floki.” The Tesla boss followed up with a tweet on Sept. 12 stating, “Floki has arrived.” FLOKI has both an ERC20 token and a BEP20 token.

The floki inu advertisements can be seen in London underground stations and on London buses. The ads include “Missed Doge?” Get Floki” in big, bold writing.

The floki Inu crypto ad campaign team claimed that the ads were “legally cleared.”

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

While Transport for London (TFL) said there have been no complaints about cryptocurrency ads from the public, some politicians in Britain have voiced concerns that the TFL shouldn’t have approved floki inu advertisements.

The mayor of London said that TFL was writing to the ASA (Financial Conduct Authority) and FCA to get their opinions on the concerns being raised. Sian Berry, a Green Party London Assembly member, told the Guardian:

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

The team behind floki inu’s ad campaign informed the BBC via email:

The attack against these ads by a certain political party is an attack against cryptocurrency and against the people’s freedom of choice — a clear attempt at censorship.

The ASA has banned an ad campaign that promoted the cryptocurrency exchange Luno. It ran on TFL. The advertisement stated that it was “time to buy” Bitcoin.

The ASA stated that it was reviewing different cryptocurrency ads, including those for flokiinu, in “various media spaces” and not just TFL. The authority explained that it would be looking at whether the ads violate its rules and use its findings to inform regulation in this area.

What do you think about the investigation into the ads for cryptocurrency floki inu (FLOKI)? Please let us know your thoughts in the comments below.

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