Transport for London orders to ban meme coins ads as FLOKI ad goes live
Because of the ongoing live meme tokens ads in the transport sectors in London, TFL was ordered to ban such kinds of ads.
At the end of October and the beginning of November, the Shiba inu token grabbed huge attention and price in the crypto market, and also after that other meme coins started to gain momentum toward the bull run. FLOKI inu was one of the coins which grabbed better attention after the Shiba inu coin.
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An unidentified group of people funded the advertisement agencies of Transport for London (TfL) to serve the ads of FLOKI inu coin on the buses and at underground stations around London, last month.
Transport for London (TfL) was ordered, by the regulators in the financial advertisement, to restrict such irrelevant ads which may cause financial loss.
Siân Berry, a member of the Green Party’s London Assembly delegation, asked a question on this matter to the mayor of London, Sadiq Khan, regarding the advertisement of Meme coins.
“This should have raised a red flag, and someone at TfL should have looked at this before it was approved. We have guidelines on junk food and advertising.”
She also explained that such things may result in a big loss. She added:
“Where the advert says ‘this is completely unregulated, you may lose all your money,’ they ought to have had second thoughts. I don’t think cryptocurrency ads should be on the network. They’re unethical.”
It is worth noting that the advertisement of the FLOKI inu coin was served at the United Kingdom capital and in other European cities such as Amsterdam, Dublin, and Madrid. And these are just a few names, where they are officially identified and targeted.
In the present time, scams in the crypto industry can take place in any of unknown way. Recently few people launched Netflix’s SQUID Game-inspired crypto “SQUID token”. After getting a better investment, the project team ran away with $2 million in funds.
Read also: China’s next crypto mining crackdown with punitive electricity prices
