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Bitso gave away nearly $400,000 to Brazilian soccer fans in QR code game

Bitso gave away 1,840,500 Brazilian reals (about $387,000) to Brazilian soccer fans during a recent match, using QR codes printed on players’ sleeves to initiate a game of tag for viewers at home.  The giveaway was part of a new sports marketing experiment from the Latin America-focused cryptocurrency exchange, which is working to expand its presence in Brazil.  A ‘game within a game’ During a March 10 soccer game between São Paulo Futebol Clube (SPFC) and the Palmeiras, viewers were …

Australia’s consumer watchdog sues Meta for allegedly misleading users with crypto scam ads

The Australian Competition & Consumer Commission (ACCC) announced on March 18 that it has taken legal action against Meta, alleging that the company had misled Facebook users by publishing s for crypto scams featuring local public figures unaware of the content.  “The ACCC alleges that the ads, which promoted investment in cryptocurrency or money-making schemes, were likely to mislead Facebook users into believing the advertised schemes were associated with well-known people featured in the ads, such as businessman Dick Smith, …

Crypto apps soar in popularity after super bowl splurge

Crypto apps shot up App Store download charts in the US on Monday morning, after a Super Bowl studded with digital assets advertising.  Super Bowl LVI’s face-off between the Cincinnati Bengals and Los Angeles Rams also saw two of the biggest crypto exchanges, FTX and Coinbase, compete for eye-balls.  Data tracked by The Block Research shows that Coinbase’s app surged from 186th place to second on the App Store. Coinbase’s ad prompted a rush of downloads. FTX-owned Blockfolio and eToro, the investment app, …

UK government latest to ramp up scrutiny of crypto ads

The UK government on Tuesday became the latest authority to tighten its rules around crypto advertising, in a move that will see the regulation of adverts brought into line with other financial promotions. In a press release, HM Treasury, the UK’s finance ministry, said it is “eager to support innovation in cryptoassets” and recognizes the potential of certain products such as stablecoins to provide a more efficient means of payment.  The move will bring crypto marketing within the scope of …

Spain announces new rules for influencer crypto posts

Spanish regulators are pushing to control the way cryptocurrencies are marketed, with new restrictions on influencers’ promotions. The Comisión Nacional del Mercado de Valores (CNMV), the government agency responsible for the financial regulation of the securities markets in Spain, issued a release on Monday defining the new rules. Posts promoting crypto-assets must now include the following disclaimer: “Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost.” So-called …

Singapore curbs crypto marketing in digital asset crackdown

Singapore has cracked down on crypto marketing in a bid to curb a frenzy of retail trading in risky digital assets.  In guidelines issued by the Monetary Authority of Singapore on Monday, the regulator said “the public should not be encouraged to engage in the trading of [digital payment tokens (DPT)].” The body advised that service providers should only market their wares on their own websites, apps or social media, and in doing so should not trivialize the risks of …

Meta made it easier to run crypto-related ads on its platform

Meta, the social media company formerly known as Facebook, changed its requirements for businesses who seek to advertise digital asset-related products.  The firm announced Wednesday that it is increasing the number of acceptable regulatory licenses from three to 27, according to a company release, in addition to publicly listing eligible licenses on their policy page.  Prior to the change, the company required that businesses submit an application including details such as relevant crypto licensure and whether the business was publicly …