The UK's advertising watchdog banned Coinbase's campaign materials for presenting cryptocurrency as a solution to the cost of living crisis while failing to sufficiently disclose investment risks.
The Advertising Standards Authority (ASA) judged that the exchange's video and three posters implied that cryptocurrency provided a solution to financial pressure, stating it was "irresponsible" and "trivialised the risks of cryptocurrency." This campaign started in August 2025, but the ASA made an official ban decision this week.
The material included a two-minute satirical video showing scenes of overflowing trash bins, soaring grocery prices, and sewer issues, depicting the economic downturn in the UK.
The screen displayed the Coinbase logo along with the phrase, "If everything's fine, don't change anything."
What happened?
Three posters displayed in London underground stations and train stations contained the phrases: "home ownership out of reach," "real wages stuck in 2008," and "eggs now out of budget." All of them repeated the phrase "everything is fine" in small print before adding the same tagline.
This material did not contain information about the risks of cryptocurrency investment as required by the Financial Conduct Authority (FCA). The FCA states that cryptocurrencies remain "largely unregulated and high-risk," and investors should be prepared to lose their entire investment.
The ASA pointed out that referencing serious financial concerns with humor while simultaneously urging "change" risks making complex and high-risk products appear as easily accessible solutions. The regulatory authority ordered Coinbase not to run this form of advertisement again.
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Why it matters
Coinbase appointed former UK Chancellor **George Osborne** as chair of its global advisory council in December, following a two-year advisory role. The company refuted this decision, stating that the campaign did not present a simple solution but rather "critically reflected the widely reported economic situation."
A Coinbase spokesperson disagreed with the assessment of this campaign as socially irresponsible and reaffirmed the company's commitment to operate within the UK regulatory framework. The company claimed that digital assets could play a constructive role in improving the efficiency of the financial system.
Clearcast, the TV advertising pre-vetting body, had already rejected this video in August, citing that it presented cryptocurrency as a potential economic solution without sufficient evidence. The ASA's ban now extends beyond television to online platforms and outdoor advertising spaces.
This decision is part of a broader enforcement issue regarding cryptocurrency advertising in the UK. The FCA issued 1,702 warnings about misleading cryptocurrency promotions, but according to a report by the Financial Times (FT), only 54% of those ads were removed.
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