After the intense “FLOKI” advertising campaigns… “London” bans crypto ads on public transport

British authorities have reportedly urged Transport for London (TfL) to stop allowing cryptocurrency ads on its infrastructure.

The move comes after Floki Inu, a meme coin named after Elon Musk’s puppy, was announced on the city’s subway, bus and train stations over the past two weeks.

“Unethical” encrypted ads:

Did you miss Doji? Get Floki

This was the slogan that appeared on some London Underground stations at the end of last month.

The team behind the project has promised to spend $1.5 million on marketing the coin, raising hopes for more inclusive participation by the wider British community.

Despite the currency’s recent appreciation, many consider it a speculative digital currency that lacks proper regulation.

In addition, publicly advertising these currencies in one of the largest cities in Europe may lead to losses for people who are unaware of the potential risks in the digital asset industry, more specifically, dealing with (meme) coins.

As such, Transport for London (TfL) has decided to crack down on this type of advertising, according to recent reports.

Chris Rieder, head of commercial media at the local government authority, confirmed that cryptocurrency brands wanting to advertise their product will now have to go through a thorough investigation before displaying their cryptocurrency across the city and added:

We ensure that campaigns contain enough information to comply with our policies and the rule of the Advertising Standards Authority.

TfL’s policy added that nothing sensitive or suspicious could be declared on its platforms, indicating the controversial nature of meme coins like Floki Inu.

Green Party London member Sian Berry also spoke about the issue, noting that cryptocurrency ads are “immoral”.

He said that cryptocurrencies in the UK are not regulated, and individuals may lose all their money if they enter this market.

Read also:

Deputy Governor of the Bank of England: Cryptocurrencies pose an imminent threat to financial stability

Are the bitcoin bears back? Can Bitcoin dive below $60,000?