The services offered by Dubai Land Department include property status and valuation inquiries, and property ownership certificate issuance requests
realty9 hours ago
The Advertising Standards Council of India (ASCI) on Wednesday launched guidelines for the promotion and advertising of unregulated cryptocurrencies and non-fungible tokens. They will be effective from April 1.
Ads related to all virtual digital assets (VDA) must now carry a disclaimer: “Crypto products and NFTs can be highly risky. There may be no regulatory recourse for any loss from such transactions.”
The ASCI said that the disclaimers must be prominently displayed. The guidelines are for print, audio and video media, along with social media posts and stories.
The 12-point guideline says advertisers should not promise or guarantee profits and should not compare their VDA products with a regulated asset class.
“We had several rounds of discussion with the government, finance sector regulators, and industry stakeholders before framing these guidelines,” Subhash Kamat, Chairman, ASCI, said.
“Advertising of virtual digital assets and services needs specific guidance, considering that this is a new and an emerging way of investing. Hence, there is a need to make consumers aware of the risks and ask them to proceed with caution.”
ALSO READ:
A spate of advertising for virtual digital assets was seen off late, “which could compromise consumer interest in the absence of some guardrails,” said Manisha Kapoor, Secretary-General, ASCI.
“The use of celebrities and high decibel advertising would attract consumers to these offerings, without full disclosure of the risks,” she said.
“Given that this is, as of now, an unregulated space, it is even more important for advertising to be upfront regarding the risks associated with these products."
Indian Prime Minister Narendra Modi had earlier said that the government would put a stop to misleading advertisements. The Reserve Bank of India had called for a ban on such activities as they threaten financial stability.
The services offered by Dubai Land Department include property status and valuation inquiries, and property ownership certificate issuance requests
realty9 hours ago
Upcoming 2025 edition of CCCC will be held in Lisbon
business9 hours ago
Federal requirements give workers 60 days' notice prior to ending their employment
americas9 hours ago
Meta did not immediately respond to the information
tech9 hours ago
Trump suggested that he could even be open to a third term in office — which would violate the US constitution
americas9 hours ago
S&P predicts modest impact of lower interest rates on region's lenders
finance10 hours ago
Nations are hoping to land deals to raise funds in developing nations like Bangladesh, which are least responsible for global warming but most at its mercy
asia10 hours ago
In response, Elon Musk said of the British news publisher: 'They are irrelevant'
world10 hours ago