Join our community of smart investors

Banned bitcoin ad was approved by Transport for London officials

Luno poster, which stated ‘If you're seeing Bitcoin on the Underground, it's time to buy’, was signed off by the network five months before being recalled
Banned bitcoin ad was approved by Transport for London officials
  • Investors’ Chronicle has found that a controversial ad by cryptocurrency platform Luno was explicitly approved by local government officials
  • The findings have intensified calls for authorities to do more to clamp down on questionable investment promotions

A controversial bitcoin ad was explicitly approved by public officials several months before it was banned for irresponsibly misleading consumers, raising questions about how effectively regulators are protecting investors from dubious promotions.

Investors' Chronicle has found that a heavily criticised campaign by cryptocurrency trading platform Luno, which stated “If you're seeing Bitcoin on the Underground, it's time to buy”, was referred to Transport for London for approval by its advertising contractor before being plastered across the capital’s tube and buses earlier this year.

To continue reading...
Join our Community of Smart Investors
  • Independent full-length company analysis
  • Actionable investment ideas and recommendations
  • Expert investment tools and data
  • Stock screens from Algy Hall
Have an account? Sign in