UK Advertisement Authority Goes After Misleading Crypto Advertisement
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The UK Advertising Standards Authority (ASA) has issued a ruling against an ad by Fortune Academy in regards to a crypto-related training course
According to the ruling , the ASA has determined that an advertisement by Fortune Academy promoting their “Crypto Masterclass” training course was misleading for consumers. The ad, which appeared on Fortune Academy’s website in August 2019, claimed to have helped 700 students since 2017 generate 2.5 million pounds from crypto investing.
The ASA determined that the advertisement exaggerated what clients could reasonably expect in return for taking the course and that the promotion was overall misleading for consumers. Following a complainant filing, the ASA attempted to contact Fortune Academy but received no response. The ASA published the following assessment,
The ASA was concerned by Fortune Academy’s lack of response and apparent disregard for the Code, which was a breach of CAP Code (Edition 12) rule 1.7 (Unreasonable delay). We reminded Fortune Academy of their responsibility to respond promptly to our enquiries and told them to do so in future.
According to the ruling, Fortune Academy must remove or alter their advertisement and refrain from making claims to help consumers achieve high levels of wealth from crypto in the future.
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