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Britain to crack down on “misleading” cryptocurrency adverts

The UK’s finance ministry announced on Monday that it will push down on “misleading” ads for crypto assets that could hurt customers.

Cryptocurrency advertising, such as bitcoin, has exploded in recent months, raising concerns about its influence.

According to the finance ministry, over 2.3 million people in the United Kingdom already possess a cryptoasset, but research reveals that comprehension of what crypto is is waning, implying that some consumers may not completely comprehend what they are purchasing.
“Cryptoassets can offer individuals new ways to transact and invest – but it’s critical that customers are not offered goods with deceptive claims,” said Britain’s finance minister, Rishi Sunak.
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