The Advertising Standards Authority in the United Kingdom has initiated an inquiry over adverts for the cryptocurrency floki inu (FLOKI). The advertisements, captioned “Missing Doge?” “Get Floki,” has been seen on London buses and the subway. According to the team behind the floki inu ad campaign, the adverts are “legally cleared,” and the advertising authority’s move is “an attack against cryptocurrencies and on people’s freedom of choice – a blatant effort at censorship.”
The Advertising Standards Authority (ASA), the United Kingdom’s advertising authority, is looking into adverts for the cryptocurrency floki inu on public transportation in London (FLOKI).
The cryptocurrency Floki inu is named after Tesla CEO Elon Musk’s shiba inu dog. For his sponsorship of the meme cryptocurrency dogecoin, Musk has been dubbed the Dogefather (DOGE). On June 25, he tweeted, “My shiba inu will be named Floki.” On September 12, Tesla CEO Elon Musk tweeted, “Floki has arrived.” FLOKI has an ERC20 token as well as a BEP20 token.
The floki inu advertisements have been featured on London buses and subway stations. “Missed Doge?” reads one of the adverts. “Get Floki” in huge, bold letters.
According to the company behind the floki inu crypto marketing campaign, the adverts were “legally cleared.” According to the BBC, they stated:
These ads also include a clear disclaimer highlighting the volatility of cryptocurrencies.
While Transport for London (TFL), the capital’s transport operator, stated that there have been no significant public complaints against cryptocurrency adverts, several lawmakers in the United Kingdom have raised worries that the TFL should not have authorized the floki inu advertisements.
“TFL is writing to the ASA and Financial Conduct Authority (FCA) to seek for their thoughts on the issues expressed,” the mayor’s office said. Sian Berry, a Green Party London Assembly member, told the Guardian:
This should have raised a red flag, and someone at TFL should have looked at this before it was approved.
The ASA prohibited an ad campaign for the cryptocurrency exchange Luno that ran on TFL throughout the summer. The advertisement added, “It’s time to purchase” bitcoin.
The ASA claimed in a statement to the BBC that it was investigating several cryptocurrency adverts, including those for floki inu, across “multiple media venues,” not only TFL. “We’ll analyze whether these advertising violate our rules and use our findings to guide our regulation in this area, including any further enforcement action,” the authority explained.