RATE Group | UK Advertising Watchdog Upholds Complaint Against BitMEX Bitcoin Ad
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UK Advertising Watchdog Upholds Complaint Against BitMEX Bitcoin Ad

14 Aug UK Advertising Watchdog Upholds Complaint Against BitMEX Bitcoin Ad

Posted at 08:51h in Bitcoin News by

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The United Kingdom’s Advertising Standards Authority (ASA) has upheld its complaint against a Bitcoin advertisement from top crypto derivatives exchange BitMEX.

According to an ASA announcement dated Aug. 14, the watchdog has taken issue with the purportedly misleading nature of a graph showing Bitcoin (BTC) price performance in a newspaper ad from January of this year.

ASA says it received 4 complaints

As the ASA outlines, the ad in question comprised a double spread of a logarithmic graph showing the value of Bitcoin against the US dollar over the past decade.

Alongside the graph, BitMEX’s ad included two texts: first, on the left page, it stated: “3 January 2009. Ten years ago today, the first block of the Bitcoin blockchain referenced the front page of The Times.” On the right was written: “3 January 2019. Turns out, that was a pretty big deal.” 

The ASA says it received four complaints, all of which accused the ad of being misleading on the basis of either…

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