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Bitbns Cryptocurrency Trading Exchange India - Bitbns

Recommendation: Upheld | Medium: Suo Motu - NAMS (TAMS)

In the absence of a written response along with documents for substantiation on or before the prescribed due date, the ASCI Secretariat considered this complaint exparte. The advertiser is a trading platform for Cryptocurrency. The advertisement does not carry a disclaimer to mention, “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions". In the absence of a disclaimer, the advertisement is misleading by omission. This advertisement is in contravention of Chapter I, Clause 1.4 of the ASCI Code, and Clause 1.1 of ASCI Guidelines For Advertising Of Virtual Digital Assets And Linked Services. This complaint was UPHELD by Secretariat.