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Cryptocurrency can be an eye-candy and “love island” to some people. It feels and looks new, and most often than not, intriguing – if not provocative.

Crypto easily conjures up heavy ounces of tech that may sound Greek to some people. Still, it’s something they’ve got to try because it tickles their fancy and, why not?

We’ve heard lots of stories about crypto making millionaires out of nobodies.

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There’s the hype about Bitcoin changing people’s lives for the better. More and more investors have been flocking to the crypto space to get a shot at fortune.

It’s what’s “in” today – you should invest in crypto and get loads of money, so they say.

Now, how do you sell crypto and make money from it? It depends on how your body and brain are wired to “sell” it.

Love Island twins, Jessica and Eve Gale. Image: The Independent
On T-Backs, Love Islands & Crypto Promotions

For instance, these twins – former contestants from British reality TV show “Love Island” – use their allure (okay, make that barely-there bikini pics on Instagram) to entice their combined 1.7 million followers that they can make extra bucks from their smartphone.

The Love Island twins – Jessica and Eve Gale – unsurprisingly catch the eye of UK regulators as well who, of course, didn’t ask for any titillating photos but instead reprimand them to immediately stop what they’re doing, that is, mislead their social media fans with pro-crypto posts.

They weren’t scolded for wearing T-backs and leaving nothing to imagination. That would be against the ladies’ constitutional rights.

Seriously though, the British regulator’s beef with the Love Island ladies is this: The two social media influencers posted Instagram stories that promote a crypto investment scheme. It “trivialized” investment in cryptocurrency and that is a big no-no, the regulator said.

ASA Watchdog: No Love For Love Island

According to the Advertising Standards Authority (ASA), Jessica and Eve’s posts from earlier this year should have included a warning about the risk associated with crypto investment losses.

One of the stories, posted in June by Jessica, told her nearly 1 million followers that a friend had introduced her to the “world of crypto” and it had been basically a “super quick, easy way to make extra money from your phone.”

The ASA said this violates their standards as it was “misleading” and “irresponsible.”

The ASA makes it clear:

“We considered the ads were aimed at a general audience that was unlikely to have specialized knowledge about investing in crypto assets… We concluded that the advertisements were deceptive because they lacked a risk warning informing consumers that the value of such assets could fluctuate or that crypto assets were unregulated in the United Kingdom.”

Following a warning, the British regulator may refer an advertiser who violates its regulations to the Trading Standards (TS), a local government agency in the United Kingdom that may pursue legal action or impose penalties, such as fines, on the violator.

Meantime, the Love Island reality TV stars Jessica and Eve should both be fine flaunting those provocative posts, er, curves, and not dip their toes on crypto waters lest they earn the ire of them unbending Bri Ish watchdogs.

Crypto total market cap at $946 billion on the daily chart | Source: TradingView.com Featured image from Jess Gale Instagram, chart from TradingView.com

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One thought on “‘Love Island’ Twins Warned By UK Watchdog To Behave For Misleading Crypto Ads

  1. Hi, first I do believe that Bitcoin is the superior store of value and it's a matter of time before it claims that status in terms of market cap. I am also very well exposed to Bitcoin in my investments.

    However, I am kinda having second thoughts about it becoming the global monetary standard or the unit of account.

    My main concern is that if everything would be denominated in Bitcoin then ,considering that Bitcoin is deflationary, people would tend to not spend their Bitcoin because they know they can buy more stuff with it the more they wait. This will be counter productive to economical growth and technological innovation because it will mean people will take less risks like starting a business/project or investing it in some kind of endeavour. The fiat standard encourages people to spend as soon as possible (which is not the best because most will spend it on unuseful things) but the “positive” to this is that it forces some of the people to also take chances and risks trying something entrepreneurial.

    The easy access of capital and dropping purchasing value of fiat makes a lot of people try to start business etc and obviously while most of them will fail the few that succeed are very good because the competition is so fierce. It basically makes the innovation process more ruthless and hence the outcome more optimal.

    Obviously, a fiat standard sucks in so many other areas that I don't need to state here so it's not a good solution either but maybe some kind of also decentralised money with a preprogrammed dynamic inflation in it or something like that to keep the people “on their asses” to innovate ?

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