The UK has banned Coinbase ads for downplaying crypto risks

The UK Advertising Standards Authority (ASA) has banned several Coinbase ads, saying they portrayed cryptocurrency investments as an obvious fix for everyday financial struggles and downplayed the risks of digital assets.

The ban covers a music video depicting the decline of the British economy and three outdoor posters placed in the Underground and major transit hubs. They referenced housing shortages, rising food prices, and wage stagnation, paired with the slogan “If everything’s fine, change nothing” next to the Coinbase logo.

The regulator said using humor to frame serious financial problems could mislead consumers by implying that crypto is a simple and obvious solution to economic hardship. ASA also stressed that the ads lacked mandatory risk warnings, even though UK financial rules require clear disclosure of volatility and the likelihood of losses.

The music video had already been rejected by Clearcast and barred from television last summer, but continued circulating online, triggering a broader review. The video showed an exaggeratedly deteriorating UK street – trash, rats, layoffs, falling living standards – set to the satirical song “Everything is fine.”

Coinbase CEO Brian Armstrong previously defended the campaign, arguing that criticism only underscored the “kernel of truth” in the message. He said it was not political, but rather highlighted flaws in the traditional financial system that crypto could improve.

ASA countered that the issue was not the critique of traditional finance, but the promotion of a high-risk product without adequate risk disclosure. The decision prohibits the ads from appearing again in their current form and requires Coinbase to comply with advertising standards going forward.

The case marks yet another example of the UK tightening oversight of crypto marketing. Regulators continue to introduce new rules aimed at protecting consumers and curbing overly aggressive promotion in the digital-asset sector.