UK advertisements watchdog investigation on FLOKI inu
The watchdogs of the UK advertisements authorities are doing an investigation on the floki inu meme coin advertisement in the transport sectors of the UK.
Recently, we covered a report where the transport authority of the UK ordered a stop to all kinds of crypto ads, in particular meme coins. However, at that time, nothing was clear about this matter because no Internal information was leaked but it , now it seems that matter is going toward another level with the high-level investigation.
According to the report of the BBC, Advertising Standards Authority (ASA) is doing an investigation on the advertisers of the FLOKI inu coin (Cryptocurrency) team. According to ASA, it was an illegal and unfair way of advertising crypto assets in the public transport areas.
On these things, the advertisement team behind the FLOKI inu coin marketing claimed that they cleared all the legal guidelines that are necessary to advertise the “FLOKI inu coin”.
“These ads also include a clear disclaimer highlighting the volatility of cryptocurrencies.”, the developer stated
As we know, FLOKI is a Dogecoin inspired meme coin. So most of the experts believe that FLOKI is just a crypto asset and has no use cases and is also not a genuine crypto project. To bring clarity on such types of questions, the team of FLOKI inu emailed BBC regarding this. The email read:
“Our decision not to prominently feature team members on our website is intentional: to make it clear that Floki is the people’s cryptocurrency and a movement focused on them.”
And further, through the mail, they shared all necessary details about the crypto assets.
According to the mail, Jackie Xu is the lead developer of the coin project and he lives in the Netherlands. And also the legal entity is a Georgia-based team. They cleared all the checks by providing the details of KYC to serve the ads.
Email continues:
“The Floki team isn’t entirely anonymous as is being purported, but some of our team members chose to be anonymous temporarily because they do not want the distractions, and for security reasons.”
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