Delhi High Court, India wants some standard disclaimers regarding crypto advertisement on national television. The main intention of this demand is to make crypto Investors aware about the risk involved with it.
The division bench of Justice D.N. Patel and Justice Jyoti Singh issued a notice through Delhi High court. This notice was sent to the Ministry of Information and Broadcasting, the Securities and Exchange Board of India, crypto exchanges WazirX, CoinDCX and CoinSwitch Kuber to get response about the crypto advertisement on national television in India.
Notice by the Delhi court claims that Crypto assets inherently riskier than traditional Investment instruments, so advertisement of cryptocurrency related ads should be in standardized disclaimer. According to the notice , crypto ads should cover their disclaimer details by 80% of the TV screen and also last for 5 seconds with slow voiceover, so that people can understand Cryptocurrency Investment risk perfectly.
Notice also demands the crypto advertisement prohibition by these crypto exchanges WazirX, CoinDCX and CoinSwitch Kuber. And if they want to advertise then they should be under the investigation disclaimer guidelines issued by SEBI.
Forkast.News reported, Wazrix Exchange told that it is a positive thing for crypto community because if people such guidelines regarding Cryptocurrency ads will come into effect then it will emphasize people to understand cryptocurrencies more deeply and this will leads more people to get into crypto. And also Wazirx said, there are already lots of disclaimer guidelines regarding Investment assets & platform by government entities for National Tv, so this is not going to be something negative for crypto Community and here this action by Delhi court will bring transparency regarding crypto Investment.
Amid this news, many people are considering that new crypto bill that will be introduce in next incoming session of National Assembly may have some facts regarding crypto advertisement, so that are starting their work procedure for crypto bill in advance.