The Board of Control for Cricket in India (BCCI) has been careful in its ban on digital currency-related advertising in the first edition of the Women’s Premier League (WPL). Mirroring the government’s tough stance on digital currencies, the BCCI has made it clear that franchises should stay away from any kind of partnership or association with entities involved in the cryptocurrency sector. A 68-page dossier was sent to the five WPL teams emphasizing the BCCI’s firm stance.
It seems that the BCCI is playing a zero-tolerance game when it comes to digital assets, as the women’s cricket league games have been subject to a ban, following an earlier restriction placed on the male sport.
The BCCI has certainly set the bar high when it comes to advertising standards: not only have they banned ads related to gambling and tobacco, but they also disallow “surrogate advertisements” pretending to be something they’re not. Even with these restrictions though, fantasy sports are given the green light!
Indian authorities to ban #crypto ads and sponsorships in women's cricket league.#blockchain
— DeFi UnCut (@DefiUncut) February 14, 2023
Crypto Ads Under Investigation!
Even the UK’s Advertising Standards Authority (ASA) is not pulling punches when it comes to virtual currency ads. After a productive 2022 spent calling out firms in breach of its rules, the government authority is now cracking down with more stringent measures. New proposals could spell out jail time for directors of virtual currency businesses who don’t comply!
Apart from that, the Thailand Securities and Exchange Commission (SEC) has issued a mandate that firms must provide information on ads and expenditures related to digital asset advertising and related details involving celebrity and influencer use. The regulator has put its foot down, urging organizations to submit data and take their digital asset promotion seriously!
