The U.K.’s advertising authority has banned an ad for cryptocurrency floki inu (FLOKI). The authority says the ad’s “Missed Doge? Get Floki” claim “exploited consumers’ fears of missing out and trivialized investment in cryptocurrency.” The ad was also “irresponsible” and “took advantage of consumers’ inexperience or credulity,” the regulator said.
Floki Ad Banned in the UK
The Advertising Standards Authority (ASA), the U.K.’s regulator of advertising, published its “Ruling on Floki Inu” Wednesday.
The advertising authority began investigating an ad campaign for floki inu (FLOKI), the cryptocurrency inspired by Elon Musk’s shiba inu dog, in November last year after the Floki ad was seen on public transport in London.
The ad contains a floki inu logo and text that says, “Missed Doge? Get Floki.” It also contains smaller text at the bottom that reads, “Your investment may go down as well as up in value. Cryptocurrency is not regulated in the UK.”
After investigation, the ASA ruled:
The use of an image of a cartoon dog wearing a Viking…