News 📰: South Africa adds new cryptocurrency standards to advertising code
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The South Africa's Advertising Regulatory Board (ARB) has added a new clause to the country's advertising code to protect consumers from unethical advertising in the cryptocurrency industry.
The new clause requires companies and individuals to abide by certain standards in advertising cryptocurrency products and services, such as clearly stating that investments may result in loss of capital, providing balanced information about returns and risks, and adequately....
substantiating rates of returns. The clause also prohibits the use of credit to acquire cryptocurrencies and sets standards for social media influencers and brand ambassadors. The move was led by cryptocurrency exchange Luno in collaboration with the ARB.
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