Irish regulator investigates violations of cryptocurrency advertising rules

The agency said it had received four complaints since 2019, two of which were about the cryptocurrency meme Floki Inu. The project was advertised on the Dublin bus driveway in 2021. Curiously, the project had previously been audited by regulators in the UK. The authority specified that all four complaints are now under review.

ASAI noted that it is observing the approach of UK regulators to the regulation of digital currency advertising. The Authority has taken note of a proposal by UK Chancellor of the Exchequer Rishi Sunkak to regulate cryptocurrency advertising in line with UK Financial Conduct Authority (FCA) policy.

Ireland's central bank has issued a number of warnings to cryptocurrency investors in recent years. A spokesman for the central bank said consumers considering investing in the product should carefully consider their investment objectives, level of experience and risk appetite.

In October, New York-based BNY Mellon, which opened a unit in Ireland, urged the government not to wait for the European Union to provide guidance on regulating crypto-assets, but instead suggested it begin drafting its own rules.

В That same month, the CEO of cryptocurrency exchange Binance, Changpeng Zhao, said the company will open several headquarters, one of which will be in Ireland. In August, cryptocurrency brokerage Zodia Custody said it plans to offer its services to institutional investors in Ireland.