UK Advertising Standards Agency supports complaints against BitMEX advertising

According to Finance Feeds, users recently filed a complaint about BitMEX's advertisement for Bitcoin in the newspaper, and the British Advertising Standards Agency (ASA) supported the complaint. The ad appeared on January 3, 2019, spanning two pages, describing the sudden rise in the value of Bitcoin after July 2010. From July 2017 to January 2018, the highest record on the chart exceeded $10,000. The ASA received a total of four complaints. The four complainants believe that the advertisement exaggerated the return on investment and questioned that the advertisement was misleading because it failed to explain the risk of investment. After analyzing the advertising chart, ASA believes that readers are likely to be misled by the ad in terms of the value and stability of Bitcoin. The ad is a publicity statement about the benefits of Bitcoin, but there is little warning to consumers about any risks.