ASCI frames guidelines for crypto, NFT-related advertising, promotion

ASCI has clarified that its guidelines should not be read as a legal recognition or endorsement of the industry or sector since that is a matter of government policy

“Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.” The Advertising Standards Council of India (ASCI) wants this disclaimer prominently displayed on ads and promotions related to virtual digital assets (VDAs) such as cryptos or non-fungible tokens (NFT).

In a set of guidelines issued on Wednesday, ASCI noted that several advertisements for virtual digital assets do not adequately disclose the risks associated with them even as advertising for these products has been very aggressive over the past few months.

The guidelines will be applicable to all VDA-related ads