Crypto ads must now display a risk warning, and social media influencers can’t give trading advice, according to the industry’s self-regulatory code.
Crypto Ads Regulations In South Africa
The Advertising Regulatory Board of South Africa released new guidelines on Monday, saying that advertisers selling cryptocurrencies must include a disclaimer in their commercials that the value of their investments may be at danger.
Additionally, the Advertising Regulatory Board (ARB) would like to see stricter regulations for crypto-promoting social media influencers or celebrities.
Gail Schimmel, CEO of Advertising Regulatory Board said in a statement “This is a wonderful example of an industry that sees the harm that could be done in its name, and steps up to self-regulate the issues without being forced to do so by the government.”.