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ASCI GUIDELINES ON CRYPTO AND INDIAN CELEBRITIES ENDORSING CRYPTO PRODUCTS

ASCI GUIDELINES ON CRYPTO AND INDIAN CELEBRITIES ENDORSING CRYPTO PRODUCTS

The Advertising Standards Council of India (ASCI) has said it does not discuss changing its guidelines on crypto ads, removing the air instead of playing a key role in the proposed ban on Indian celebrities authorizing crypto products.


India's Securities and Exchange Board of India (SEBI) has suggested that no public figures, including celebrities and famous athletes, should authorize crypto products and that the disclosure of the advertisements should address potential violations of existing laws, according to a Hindu report. Business Line.


SEBI has submitted a written report on its findings to a parliamentary finance committee, the newspaper reported.


"This appears to be SEBI's view of the ongoing negotiations within the government," said Manisa Kapoor, chief executive of the advertising council.


"ASCI has some guidelines for celebrities. In addition, there is a crypto guidelines section as well. and if they did not do well.


The role of ASCI

ASCI does not have the authority to block celebrities from approving any products. That authority belongs to the government only. The party guidelines, however, are regarded as a blueprint to be followed to protect the interests of Indian consumers in order to regulate advertising.


"ASCI needs celebrities to be aware. Since the ban or not is not in our first impression, it is not a situation that ASCI can take or take," Kapoor said.


While the government may assess the possibility of a ban, it may not be realistic and may be challenged, a source familiar with the matter told CoinDesk.


Late last year, the Prime Minister of India Narendra Modi led a meeting to review the regulations of cryptocurrencies. According to reports, a strong agreement has been reached to stop "attempts to mislead young people through excessive advertising and failure."


In February, ASCI released new guidelines requiring crypto ads to carry discounts. The guidelines came into effect on April 1.


Under India's Consumer Protection Act, celebrities can be fined up to $ 13,000 for initial or misleading advertising and up to $ 65,000 for additional infringement, which may be completely banned from allowing any product for up to three years.

SOURCE : YAHOO



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