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The Times of India
The Times of India
Business
Sunainaa Chadha | TIMESOFINDIA.COM

New rules for virtual digital assets are out: Words like 'currency' and 'custodian' banned

ASCI India New Delhi

NEW DELHI: In a set of fresh guidelines issued on Wednesday, the Advertising Standards Council of India noted that several advertisements for virtual digital assets do not adequately disclose the risks associated with them given that promotions for these products has been aggressive over the past few months despite it being an unregulated industry in the country.

“Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.” This is the disclaimer ASCI wants predominantly displayed on ads and promotions related to virtual digital assets like cryptos and non fungible tokens ( NFTs) from April 1, 2022.

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