UK Advertising Standards Agency bans Coinbase series ads

The Advertising Standards Agency (ASA) in the UK has announced a ban on Coinbase's video ads and posters posted at London Underground and train stations in August of last year. ASA believes that these advertisements, by showcasing challenges such as rising living costs and unemployment, accompanied by lyrics that say "everything is fine," suggest that consumers should undergo financial changes, positioning Coinbase as an alternative to the traditional financial system while downplaying cryptocurrency risks. Coinbase responded that the advertisement aims to spark discussions about the current state of the financial system, rather than providing simplified solutions. Brian Armstrong once wrote on X platform that updating the system and improving society are statements about the failure of traditional financial systems and ways to improve cryptocurrency.