India’s Advertising Stands Council Issues New Guidelines Regulating Crypto Marketing

23.02.2022 21:01
by Nina Petrov
2 min read

Lately, India has been in the spotlight because of recent tectonic changes in legislation. Although India is the largest crypto market in the world, cryptocurrencies still aren’t officially legalized.

On Wednesday, the Advertising Stands Council of India released a new guideline that regulates the way virtual digital assets (VDA) are promoted and advertised.

According to the Council, the new advertisement guideline consists of 12 rules, composed in collaboration with the key crypto stakeholders and the government.

One of the main points of the guideline is that ads promoting crypto and NFT products must include a disclaimer that these products are highly risky. Additionally, the warning has to be displayed in all dominant languages in India.

Furthermore, any comparison between crypto-assets and regulated assets is forbidden. Keywords such as “securities”, “currency”, and “custodian” should be avoided. Also, cryptocurrencies aren’t to be presented as a solution to money problems in any way.

The new guidelines seem to be welcome in the marketing departments across the country. Head of Brand, Marketing, and Communication at CoinDCX said that the new guidelines are clear, and promise better regulation in the future. Also, the CEO of Crebaco, a blockchain analytical firm, showed the same positive attitude, agreeing that the industry does need to get rid of the “get rich quick scheme” image.

The new digital assets marketing framework was a reaction to overly aggressive crypto advertisements in 2021 and becomes effective as of April 1st. 

On the same day, the new capital gains tax comes into force, after which the state will charge 30% on profits from crypto and other digital assets.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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