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South Africa Implements New Crypto Standards in Advertising Regulations

South Africa introduced new crypto law

The Advertising Regulatory Board (ARB) of South Africa has introduced a new clause for the cryptocurrency industry in its advertising code, aimed at protecting consumers from unethical advertising.

Companies and individuals in the country must abide by certain advertising standards pertaining to the provision of cryptocurrency products and services in a new clause introduced to Section III of the country’s advertising code.

The clause states that adverts must clearly state that investments may result in the loss of capital and must not contradict warnings about potential investment losses.

Adverts must also give balanced messages around returns, features, benefits and risks associated with the associated product or service and provide adequate substantiation of rates of returns, projections or forecasts.

Social media influencers and brand ambassadors must also comply with certain advertising standards, including sharing factual information and being prohibited from offering advice on trading or investing in crypto assets.

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