The Advertising Standards Authority (ASA), a body that oversees advertising in the United Kingdom, is cracking down on non-compliant crypto advertisements.
Earlier this year, Arsenal became one of the many football clubs to collaborate with blockchain firm Chiliz and launch a fan token. On Aug. 12 this year, the club promoted its fan token AFC on its official Facebook (NASDAQ:FB) page, which the ASA has banned for allegedly violating its advertising rules. The agency stated that the post did not highlight the risks involved in the investment.