Britain's advertising watchdog banned Coinbase campaign materials for suggesting cryptocurrency could address the cost of living crisis without adequately disclosing investment risks.
The Advertising Standards Authority ruled the exchange's video and three posters were "irresponsible" and "trivialised the risks of cryptocurrency" by implying crypto offered solutions to financial pressures. The campaign launched in August 2025 but the ASA issued its formal prohibition this week.
The materials included a two-minute satirical video showing Britain in economic decline with overflowing rubbish bins, rising grocery prices, and sewage problems.
Text stated: "If everything's fine, don't change anything" alongside Coinbase's logo.
What Happened
Three posters displayed in London Underground stations and rail stations featured text reading "home ownership out of reach," "real wages stuck in 2008," and "eggs now out of budget." All contained small repeated text saying "everything is fine" before the same tagline.
None of the materials contained information about cryptocurrency investment risks, despite Financial Conduct Authority requirements that crypto advertisements include prominent risk warnings. The FCA states crypto remains "largely unregulated and high risk" and buyers should prepare to lose all their money.
The ASA said using humor to reference serious financial concerns alongside calls to "change" risked presenting complex high-risk products as easy responses. The regulator ordered Coinbase not to show the advertisements in their current form again.
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Why It Matters
Coinbase appointed former UK Chancellor George Osborne to chair its global advisory council in December after two years as an adviser. The company disputed the ruling, saying the campaign "critically reflects widely reported economic conditions" rather than offering simplistic solutions.
A Coinbase spokesperson said the firm disagrees with characterizing the campaign as socially irresponsible and remains committed to operating within UK regulatory frameworks. The company maintained digital assets can play a constructive role in financial system efficiency.
Clearcast, which pre-approves television advertisements, had already rejected the video in August for presenting crypto as a potential economic solution without sufficient evidence. The ASA ban extends beyond television to online platforms and physical advertising locations.
The ruling follows broader enforcement challenges in UK crypto advertising. The FCA has issued 1,702 alerts about misleading crypto promotions, but only 54% of flagged advertisements have been removed according to FT reporting.
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