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ARTICLE · 08 JUNE 2022

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Guidelines On Regulation Of Virtual Digital Assests: A Global Perspective

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The Advertising Standards Council of India ("ASCI") has recently released the "ASCI Guidelines on Advertising and Promotion of Virtual Digital Assets and Services".

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JusIP

Introduction

The Advertising Standards Council of India ("ASCI") has recently released the "ASCI Guidelines on Advertising and Promotion of Virtual Digital Assets and Services". Taking into account the growing popularity of crypto currencies and Non-Fungible Tokens (NFTs), the ASCI has released the aforementioned Guidelines, since often advertisements pertaining to crypto currencies, NFTs and various other kinds of Virtual Digital Assets ("VDA") do not disclose risks associated with investing in the same. After due consultation with several stakeholders, the above guidelines have been published by ASCI and will be applicable on all Ads on and after 01 April 2022. Additionally, older Ads/Posts etc which are in contravention to these Guidelines shall be taken down before 15 April 2022. The Guidelines are applicable to Advertisers, digital media marketing houses owners as well as celebrities and prominent persons who endorse Digital Assets.

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