New Advertising Landscape for Crypto Firms
Starting October 2022, the Thai Securities and Exchange Commission (SEC) is rolling out tough new advertising rules meant to clean up the crypto ad game. If you’re in the business of digital currencies, get ready to rethink your marketing strategies before running afoul of these regulations.
Investment Warnings Are a Must
Cryptocurrency businesses in Thailand received an email notification on September 1, detailing the necessity for clear consumer investment warnings in their advertisements. This comes as a response to a plethora of campaigns that have failed to mention, let alone address, the investment risks inherent in crypto.
Truth in Advertising: The SEC Approach
Gone are the days of flashy claims and exaggerated promises! The new rules aim to curb misleading advertisements by demanding that firms present a balanced view of their offerings, highlighting both the sunny sides and the dark corners of their products. Here are the main standards:
- Avoid Misleading Claims: No more fairy tales—advertising must refrain from any misleading or false assertions.
- Highlight Investment Risks: Firms must include risks clearly, making sure potential investors know they might not strike gold immediately.
Restrictions on Promotional Channels
Bitcoin billboards and flashy social media campaigns are still in the mix, but firms must now limit crypto promotion to
