Floki Inu is the newest cryptocurrency in town which started off by taking up rivalry with one of the most rapidly emerging crypto coins, Dogecoin. The advertisements of Floki Inu can be seen and found everywhere in the UK, however, the advertisements of FLOKI have come under the investigative radar of the UK’s advert supervisory authority for various reasons. A warning too has been issued to the people behind the promotion of FLOKI who feel aggrieved.
FLOKI is a crypto coin that is a new entrant in the family of cryptocurrencies. The people behind the launch of this new crypto coin targeted Dogecoin for the purposes of promotion. The advertisements of FLOKI can be seen in many areas and objects in the UK. For instance, the majority of FLOKI’s advertisements can be seen printed on the buses, tube stations, and subways.
However, FLOKI’s ad campaign has been questioned by UK’s advert supervisory authority namely “Advertising Standards Authority (ASA)”. The issue has become more serious when ASA has already decided to investigate the advertisements relating to FLOKI.
The most viewed advertisement of FLOKI is the one that carries the slogan, “Missed Doge? Get Floki”. However, it has been noticed by ASA that before publishing the advertisements, FLOKI promoters did not obtain approvals. Consequently, none of the advertisements which are part of FLOKI’s promotional campaign are authorized by ASA. On the contrary, FLOKI people have been suggesting to the people that their advertisements are duly approved by ASA.
The people behind FLOKI have furthermore suggested that the advertisements have been prepared to keep in view the ASA standards. They have been arguing that the ads contain full disclosure of the risks and duly describe the fact that cryptocurrencies are highly volatile.
There are some elements in the UK also which are also raising eyebrows against Transport for London. They are claiming that Transport for London should not have leased out the areas for the public of FLOKI advertisements without checking their authorizations. However, most of these complaints haven’t come from the general public. Instead, there were some politicians who had expressed their views that Transport for London should have acted more responsibly.
London’s Mayor has confirmed that Transport for London has committed to addressing the concerns of ASA. In addition, Transport for London also wishes to receive views and opinions of the UK’s Financial Conduct Authority in the matter.
In any case, a warning has been sent to FLOKI’s promoters. They have been asked to explain why permissions were not obtained prior to initiating the advertisement campaign. However, the promoters of FLOKI are of the view that they are aggrieved of mal-treatment by ASA. They too are raising allegations that they have followed the process and standards laid down by ASA. In the meantime, ASA has asked Transport for London to explain the issue in writing.