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All cryptocurrency advertisements in India will carry normal disclaimers to warn buyers of dangers related to crypto starting April 1, as per pointers launched by the Advertising Standards Council of India (ASCI) on Wednesday. 

See associated article: Indian court seeks standardized disclaimers on crypto ads

Fast info

• The disclaimer should learn: “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”

• The self-governing physique issued the rules after the Delhi excessive court docket requested authorities companies and crypto exchanges to kind a typical disclaimer for crypto advertisements final July. 

• Even after India introduced a 30% tax on cryptocurrency earnings, digital belongings should not thought-about authorized and stay unregulated.

• The new pointers additionally state that crypto advertisements can not include the phrases “currency,” “securities,” “custodian,” and “depositories,” as these phrases are related to regulated merchandise. 

• Advertisers can not use minors for digital asset advertisements nor painting crypto buying and selling to resolve monetary issues and are additionally required to show their contact data. 

See associated article: India’s 1st parliamentary meeting on crypto ends with consensus on regulation — and no ban