UK Watchdog Bans Coinbase Ads for Downplaying Crypto Risks
The UK’s advertising watchdog has banned a series of Coinbase advertisements for allegedly downplaying the risks of investing in cryptocurrency. These Coinbase ads, which included a satirical musical-style video and several posters, were criticized for portraying the exchange as a solution to the country’s cost-of-living crisis.
The Advertising Standards Authority (ASA) stated that the campaign was “irresponsible: and trivialised the risk of crypto. Using humour to address serious financial issues could mislead viewers into dismissing the high risks associated with digital asset investments, stated the regulator.
Coinbase Ads Banned in the UK
According to the latest reports, the UK’s advertising regulator, Advertising Standards Authority (ASA), has banned several Coinbase ads. The ads promoted the crypto exchange, asserting that it could help with the country’s cost-of-living issues. They also allegedly downplayed the risks of investing in digital assets.
Initially, Coinbase released the two-minute ad in July 2025. This video portrayed satirical musical scenes where happy citizens sang, “Everything is fine, everything is grand.” This becomes satirical as they sang against a gloomy background, where their homes fell into disrepair, they faced power outages, and their city streets were filled with overflowing trash and rats. Before picturing the Coinbase logo, the ad presented a line- “If everything’s fine, don’t change anything.”
In response to this advertisement, the ASA stated,
“We considered that using humour to reference serious financial concerns, alongside a cue to ‘change,’ risked presenting complex, high-risk financial products as an easy or obvious response to those concerns.”
Why ASA Cites Regulatory Non-Compliance?
It is worth noting that the Coinbase ad was already rejected by Clearcast, the organization that approves TV commercials in the UK. The platform cited the ad’s presentation of crypto as a solution to economic problems without clear evidence as the major reason for the rejection. The ASA now argued that the exchange circulated the ad despite this rejection from Clearcast. The ad was widely shared online and was accompanied by three posters in busy areas, including parts of London.
The regulator also noted that the Coinbase ads did not include any risk warnings. This clearly shows how the ad is not compliant with the laws, as the Financial Conduct Authority mandates crypto promotions to clearly show the risks involved.
However, a Coinbase spokesperson defended the ads, stating that they were intended to spark discussions about the current state of the financial system. With the ad, the company wanted to urge lawmakers to work for a better system, stated the spokesperson. They highlighted Coinbase’s belief that ““responsible adoption can play a constructive role in a more efficient and freer financial system.” They added,
“While we respect the ASA’s decision, we fundamentally disagree with the characterisation of a campaign that critically reflects widely reported economic conditions as socially irresponsible.”
UK Cracks Down on Misleading Crypto Ads
The ASA has a history of cracking down on crypto ads it considers misleading. The regulator has banned similar campaigns before. For instance, Coinfloor, another crypto exchange, was one of the first to have its ads banned. While one of its ads featured a pensioner giving a testimonial, the ASA stated that it could mislead the audience.
In 2022, the ASA also removed advertisements linked to Facebook. Facebook shared ads for non-fungible tokens (NFTs) from Crypto.com and Turtle United. The ASA banned them because they did not clearly state the risks.
