Soccer-Arsenal reprimanded for second time for fan token adverts

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Reuters UK

(Reuters) - Britain's advertising watchdog upheld a ruling against Arsenal over their promotion of fan token company Socios on Wednesday, determining that the two ads posted on the club's website and Facebook were "misleading" and irresponsible". The Advertising Standards Agency (ASA) said the adverts had failed to make clear the tokens had to be bought with a cryptocurrency, taken advantage of fans' inexperience and did not warn of the risk of trading crypto. Digital fan token firm Socios has deals with six Premier League clubs, including champions Manchester City, as well as Barcelona, Juven...

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