Influencers and Cryptos: When Confidence Outweighs Understanding - Indian Advertising Council Steps In
The cryptocurrency landscape is booming in India, but with it comes a growing concern: influencers promoting cryptos without fully grasping the complexities. The Advertising Standards Council of India (ASCI) is taking notice, cracking down on misleading crypto advertisements and holding influencers accountable.
ASCI Cracks Down on Misleading Crypto Ads
The Advertising Standards Council of India (ASCI) has reported a significant number of violations regarding cryptocurrency advertising. In the first five months of 2025 alone, over 400 crypto-related advertisements violated advertising and promotion guidelines of virtual digital assets (VDAs), and guidelines for influencer advertising. This highlights a serious issue of compliance within the industry.
One common concern is, “Some influencers talk so confidently about crypto without fully understanding it.” This lack of knowledge can lead to the misrepresentation of risks and potential returns, potentially misleading their followers into making uninformed investment decisions.
400+ Crypto Ads in Violation: Influencers in the Spotlight
The sheer volume is alarming. Over 400 advertisements were found non-compliant by the Advertising Standards Council of India (ASCI), specifically noting influencers online. The data clearly shows the ASCI's increased vigilance and stricter enforcement of advertising standards in the virtual digital asset space. These violations often stem from a failure to properly disclose risks associated with crypto investments and a lack of clear, concise language about the underlying technology.
Most Complaints Concern Influencers: The ASCI reports that influencers are a primary source of concern when it comes to misleading crypto advertisements. This reinforces the need for greater education and responsibility among influencers promoting these assets.
The Role of the Advertising Standards Council of India (ASCI)
According to reports, the Advertising Standards Council of India (ASCI) has found that more than 400 cryptocurrency advertisements have so far this year violated its rules. The ASCI plays a crucial role in protecting consumers from misleading and unethical advertising practices. Their actions are intended to ensure that crypto advertisements are transparent, accurate, and compliant with established guidelines. They also provide guidelines for influencer marketing, which should be followed diligently.
The ASCI's intervention highlights the need for both influencers and crypto platforms to prioritize education and transparency in their marketing efforts. As the crypto market matures in India, responsible advertising practices will be critical for building trust and ensuring sustainable growth.