Guidelines To Promote & Advertise Crypto, NFTs In India

Guidelines To Promote & Advertise Crypto, NFTs In India

The Advertising Standards Council of India (ASCI) has announced that from April 1st all crypto, NFT advertisements will have to carry a disclaimer -” crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions”- in a prominent and unmissable way.

“Advertising of virtual digital assets and services needs specific guidance, considering that this is a new and as yet an emerging way of investing. Hence, there is a need to make consumers aware of the risks and ask them to proceed with caution,” ASCI chairman Subhash Kamath said.

The disclaimers need to be put in — audio, video, prints, social media posts, or disappearing stories.

Let’s have a look at the guidelines.

All the guidelines have been crafted after numerous discussions among the key stakeholders.

“We had several rounds of discussion with the government, finance sector regulators, and industry stakeholders before framing these guidelines,” said Subhash Kamath, chairman, ASCI.

These ASCI guidelines aid in standardizing advertisements within the virtual digital assets (VDAs) space. For now, these guidelines seem to be the right direction towards bringing clarity concerning the VDA ads.

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