Member of the London Assembly Sian Berry wants to ban all crypto advertisements in public transport. Berry took to Twitter to express her anti-crypto-advertisement views and said that she would reach out to the London mayor to put a ban on them. Calling these ads ‘unethical’, Sian berry said that they are akin to gambling advertisements which are already banned in London.
London is used to crypto advertisements as a whole. Billboards and public transport have advertised cryptocurrencies for a long time, with Shiba Inu recently declaring a campaign to aggressively advertise in the city’s public transport. However, Berry stated that her Shiba Inu is not her exclusive target. Instead, any company that advertises crypto should not be allowed to put those ads in public spaces, including the internet.
A similar development broke out in India recently, with the Prime Minister of the country asking crypto exchanges not to put irresponsible advertisements. Many cryptocurrency exchanges have recently taken to heavy advertisements in popular media. Popular campaigns starring Matt Damon have become a worldwide success. In the United States especially, top crypto exchanges have partnered with numerous events to promote their products. While the crypto community does not see anything wrong with it, many believe that such unregulated products should not be advertised. There is merit to that argument since the cases of money laundering and cybercrime using crypto have gone up dramatically. If unaware investors buy crypto without understanding its risk, it will do more harm than good to the larger ecosystem.