Two Arsenal cryptocurrency ads are banned in the UK

London (awp / dpa) – its “fan token”, two Arsenal ads for a cryptocurrency, have been banned by a regulator, urging the football club not to take “irresponsible and irresponsible profits from consumer loyalty”.

“We urge Arsenal to ensure that their future advertisements do not minimize the consequences of investing in cryptocurrencies,” the Advertising Standards Commission (ASA), a British advertising agency, said on Wednesday.

Like many European clubs, Arsenal have teamed up with Socios.com to create a “fan token”.

Fans of the London Club are encouraged to purchase a cryptocurrency silice and then exchange them for tokens that give them the right to vote for certain decisions of the club.

At the end of November, Socios.com chairman Alexandre Dreyfus said he had signed deals with 56 clubs and nearly a hundred teams in various sports.

Lionel Messi received a portion of his first salary at PSG as club fan tokens.

But for ASA, Arsenal need to explain to its fans that buying tokens is a risky investment: “We told them to make it clear that the value of investments in crypto-assets varies and that crypto-assets are not regulated.”

The “fan tokens” policy was not unanimous among British supporters: in August, the Leeds club in turn announced an alliance with Socios.com.

The team’s fan club later asked: “If we want to bring unrestricted cryptocurrency into the game of football, we believe clubs must also provide education and advice, and the risks they create.” .

Susanh Streeter, financial analyst at Hargreaves Lansdown, said: “Cryptocurrencies are very complex, difficult to estimate and very volatile because fans have to be very careful before they spend their money.”

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