Coinbase CEO Brian Armstrong weighs on the advertisement of the Crypto platform that is reportedly forbidden on television networks in the United Kingdom.
In a new position on the social media platform X, Armstrong says that the advertisement is intended to point out the failure of the traditional financing system and suggests that it has been removed by regulators, incorrectly interpreting as a political or misunderstanding cryptocurrency.
“Our advertisement that has been banned by the TV networks in the VK has yielded a decent response. If you cannot say it, then there must be a core of truth in it. The system must update the system and improve society is not a political explanation about both parties in the VK (some have tried to make it in this). And it is not specific to the VK (we have advertisements).
It is an explanation about how the traditional financial system does not work for many people and how Crypto represents a way to improve that. There are people in the UK who still consider Crypto as a kind of gambling product (a very outdated image), and have completely missed the potential of Crypto that the financial system must update and improve for everyone. We welcome the attacks and all other attempts to censor this message, because it just helps to spread. ”
Armstrong does not say who is specifically responsible for prohibiting the advertisement, which was placed on X and YouTube last week.
The two -minute musical advertisement is entitled “Everything is Fine” and emphasizes an impoverished VK with rising food costs, crumbling civil infrastructure and a growing number of people moving to Dubai.
According to the Telegraph, ClearCast, who approves or rejects advertising for TV broadcast in the UK, forbidden the Coinbase advertisement.
Says clearcast,
“Clearcast has assessed a pre-productionscript and roughly reduced a reduced for this advertisement. We have expected that the cryptocurrency presented as a potential solution for economic challenges, without sufficient evidence for this claim or any warnings about potential volatility and risks. We concluded that it was not to the BCAP code code [UK code of broadcast advertising] And advised that we could not approve this approach. ‘
The best US Crypto platform ran earlier from advertising controllers in the UK when in 2021 the advertising office (ASA) misunderstood as a coinbase ad misleading.
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