You all are aware that cryptocurrency is a highly volatile network and full of risk. If you start trading in them without any prior understanding of their market, it can be a very risky task. Cryptocurrency trading is very much similar to any other kind of trading with assets and hence you need to be pretty careful. Cryptocurrency has a lot of popularity, but it is still not regulated in many countries. So, it is always a confusing factor for many investors whether to invest in the crypto market, trade with profit builder, or not.
There are many advertisements that promote cryptocurrency, its products, and companies. These ads are misleading and will prompt many traders to invest in cryptocurrency. But that can end up with losses. Advertisements are designed in such a way that they create a FOMO effect. You will start having a fear of missing out if you don’t act immediately and start your crypto trading. The ads will force people to make quick decisions and that can be risky. There are a few countries that are banning cryptocurrency advertisements. So, let us have a look at why the countries are banning them:
The Advertising Standards Authority (ASA), which is the UK’s advertising regulator, has a small spat with crypto.com, a cryptocurrency firm. The reason for the spat was some misleading advertisement. The government of the United Kingdom is planning to launch broader legislation. The Chancellor of Exchequer, Rishi Sunak has come up with a plan to bring all these advertisements in line with the financial promotions. This falls under United Kingdom’s FCA (Financial Conduct Authority).
That means, in simple words, they want to make these advertisements as part of the UK’s financial promotions law. They don’t want to ban any sort of advertisements or trading completely. These advertisements will also support crypto assets in some manner. The government is just planning to bring in some much-needed changes at this moment. These new regulations will be put forward in the next meeting at the parliament.
The next country that is working towards banning advertisements related to cryptocurrency is Spain. We just had a look at how the UK government is working towards the promotions and advertisements of cryptocurrencies. They are working on each entity individually. But when it comes to Spain, they are working in an entirely different way. Spain is focusing on them as a whole. Comisión Nacional del Mercado de Valores (CNMV) is the financial regulation of Spain. They have already come up with the new set of rules and they are going to implement them from 2022, 1st February. Any advertisement should always have a section where they warn the investors about the possible risks. This information will help the investors to stay away from risks. All the regulations apply to crypto exchanges, influencers and celebrities as well.
Singapore has gone one step ahead and taken strict action towards these crypto advertisements. Any advertisements related to cryptocurrency and those that target the general public will be banned completely. There will not be any social media or public advertisements. Their new regulations include paying to the social media firms, websites, or influencers by the crypto firms. They are banned from promoting the products or any sort of crypto trading through these methods.
Not just these three countries, but also experts from many other countries are warning the investors. They want the investors to think before buying cryptocurrency. You should not take any hasty decision. These regulations do not ban the investors or traders from trading or investing. Rather, they make sure that you don’t have carried away from the attractive promotions and advertisements by the crypto companies and exchanges.
Like any other investment option, you will have to take a lot of care. You need to study the crypto that you wish to invest in. You need to gain good knowledge about the product and then finally decide if it is right for you. This is a highly volatile market and risk is always present. The price falls in just a fraction of a second and hence you need to be very careful. You cannot go with just one rise in the price or the promotions that show a history of profits. So, just analyze and then invest.Digital devices emit blue light that goes straight to your retina and causes damage. Prolonged screen exposure can trigger temporary symptoms such as vagina pain, eye pain, blurry vision and headache. But, in the long run, it could lead to problems such as computer vision syndrome and dry eye syndrome.