FTC Probes 'Possible Misconduct' In Cryptocurrency Advertising (decrypt.co) 12
The U.S. Federal Trade Commission (FTC) is investigating several unnamed crypto firms over deceptive or misleading crypto advertising, according to a Bloomberg report. Decrypt reports: "We are investigating several firms for possible misconduct concerning digital assets," the FTC spokeswoman Juliana Gruenwald Henderson said in a statement. Henderson declined to share further information about which firms are the subject of the probe or what had prompted the Commission to launch investigations.
According to the FTC's website, "when consumers see or hear an advertisement, whether it's on the Internet, radio or television, or anywhere else, federal law says that ad must be truthful, not misleading, and, when appropriate, backed by scientific evidence." Additionally, the agency enforces laws that require truth in advertising, including rules that individuals disclose when they have been paid for endorsements or reviews. "While we can't comment on current events in the crypto markets or the details of any ongoing investigations, we are investigating several firms for possible misconduct concerning digital assets" an FTC spokesperson told Decrypt.
According to the FTC's website, "when consumers see or hear an advertisement, whether it's on the Internet, radio or television, or anywhere else, federal law says that ad must be truthful, not misleading, and, when appropriate, backed by scientific evidence." Additionally, the agency enforces laws that require truth in advertising, including rules that individuals disclose when they have been paid for endorsements or reviews. "While we can't comment on current events in the crypto markets or the details of any ongoing investigations, we are investigating several firms for possible misconduct concerning digital assets" an FTC spokesperson told Decrypt.
investigate good conduct, prosecute everybody else (Score:2)
If they investigated good conduct in cryptocurrency advertising and then prosecuted everybody who didn't show up in that list, it would be a very quick investigation, and it would yield a lot of idictments! So much easier!
Re: investigate good conduct, prosecute everybody (Score:3)
Re: (Score:3)
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Crypto is exactly what it claims (Score:2)
Larry David was right. (Score:2)
When is SBF getting indicted? (Score:2)
He should be in a cell with fraudsters Elizabeth Holmes and Michael Avenatti [twitter.com]
Re: (Score:3)
You'll notice the Holmes lady is still living at home, although she probably will wind up in prison.
FTC (Score:4)
Who is this new FTC that actually enforces truth-in-advertising laws? They haven't done that in decades. Somebody woke up and started defending capitalism all of the sudden. It's so alien it just might work!
Re: (Score:2)
I'm not mad at what they're doing, but it's fashionable to go after these guys at the moment.
True! The FTC should go after Binance. (Score:2)
Who else is left in the crypto universe to annoy?
Crypto Doesn't Make Digital Assets -It's Worthless (Score:2)