Six cryptocurrency platforms, alongside pizza brand Papa John’s, have had adverts banned by the Advertising Standards Authority (ASA) for “taking advantage of consumers’ inexperience” in digital currencies.

The crypto platforms under fire from the regulator are eToro, Coinbase, CoinBurp, Payward, Exmo Exchange and Luno Money, all of which were also accused of failing to “illustrate the risk of investment” in cryptocurrencies.

Papa John’s was censured for a promotion running on its website and Twitter account promoting the brand’s partnership with crypto exchange Luno. The ads on the Papa John’s website read “Free Bitcoin worth £10″, while on Twitter the brand offered “Free Bitcoin worth £10” for every pizza bought via its ‘£15 off when you spend £30’ promotion. 

Despite not attempting to get consumers to invest, a stipulation of the promotion was customers had to open a Luno account.

The ASA ruled that customers who engaged in a promotion linked to buying pizza were likely to be inexperienced in their understanding of cryptocurrencies and the inherent risks. The regulator noted the adverts also contained no risk warnings about cryptocurrency.

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