Indian Crypto Advertising Regulations: ASCI States the Obvious?
The Indian crypto regulatory landscape remains uncertain, but one thing is clear: the rules of advertising have changed. Amidst this, the Advertising Standards Council of India [ASCI] brought some clarity, or perhaps just stated the obvious, with the release of new crypto ad norms.
ASCI's New Crypto Ad Guidelines: What You Need to Know
The Advertising Standards Council of India (ASCI) has issued a comprehensive guideline for advertisements of digital assets and crypto businesses, including exchanges. The Advertising Standards Council of India has released guidelines for the advertising and promotion of crypto assets and related services. The Advertising Standards Council of India (ASCI) has set new guidelines for crypto ads in the country.
The Advertising Standards Council of India (ASCI) has issued new crypto ad norms, stating that crypto promotions featuring exchanges or digital assets must carry prominent disclaimers about the risks involved. Essentially, ASCI aims to ensure transparency and prevent misleading claims in the often-volatile world of cryptocurrency.
Key Aspects of the ASCI Crypto Ad Norms
The Advertising Stands Council of India (ASCI) released a set of 12 guidelines for promotions and advertisement of virtual digital assets (VDA), including cryptocurrency. These guidelines will apply to all advertisements released or published on or after April 1. The Advertising Stands Council of India (ASCI) released guidelines for crypto or virtual digital assets related advertisements, which will be applicable on or after April 1.
They add that crypto advertisements must not be displayed in the public eye if they target minors or promote the idea that crypto investments are a guaranteed path to financial success. Cryptocurrency exchanges had been advertising widely since the recent boom, often with overly optimistic promises.
The guidelines aim to curb potentially misleading advertising and ensure consumers are fully aware of the risks associated with crypto investments.
Consumer Protection and Self-Regulation
While the ultimate law governing crypto-asset advertising is the Consumer Protection Act 2025, the self-governing guidelines have been developed by the Advertising Standards Council of India. ASCI's involvement highlights the need for self-regulation within the crypto industry, especially given the lack of a comprehensive legal framework.
In conclusion, while some may argue that ASCI's guidelines simply state the obvious – that crypto ads should be truthful and not misleading – their implementation marks a crucial step towards responsible crypto advertising in India. It remains to be seen how effectively these guidelines will be enforced and whether they will pave the way for more comprehensive crypto regulations in the future.