Justice D.N. Patel and Justice Jyoti Singh of the Delhi High Court are implementing official guidelines on crypto-related advertisements in the country.
The justices have sent a notice to relevant government agencies and crypto exchanges to inform them about the new standards that must be seen on future crypto-related ads.
The government entities who received the notice were the Ministry of Information and Broadcasting and the Securities and Exchange Board of India (SEBI). As for the crypto exchanges, CoinSwitch Kuber, WazirX, and CoinDCX have received the notice.
One of the standards that the court wants to implement is the disclaimers shown by crypto companies at the end of their ads.
According to the Delhi High Court, the text on disclaimers should occupy 80% of the TV screen, must last for 5 seconds, with a slow and understandable voiceover.
Prohibited from showing ads until …
The high court has also asked the Securities and Exchange Board of India to issue an order that would ban Kuber, WazirX, and CoinDCX from placing TV ads unit SEBI has officially issued the ad guidelines.
But according to WazirX, the new guidelines can be considered irrelevant since existing advertising guidelines are already in place for every company to follow, even the crypto-related ones.
What WazirX liked about the current ad guideline issue is that it highlighted the country’s crypto industry and reminded everyone about its importance.
With the spotlight now on crypto companies, it would certainly generate conversation and interest in cryptocurrencies. The high court certainly did not intend to do it but it has somehow created a “free promotion” for India’s top crypto exchange companies.
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