From April 1, advertisers will have to include a disclaimer when promoting the "highly risky" and unregulated cryptocurrencies, according to a self-regulatory authority for the industry.

The Advertising Standards Council of India (ASCI) has mandated that all virtual digital assets (VDAs), also known as crypto or non-fungible tokens (NFTs), include a disclaimer in advertisements for products and services that is "prominent and unmissable."
The rules were announced after meetings with industry players, government officials, and financial authorities. It comes at a time when advertising for controversial products and services is on the rise.

The government has yet to pass legislation on such assets, but it has proposed a tax on gains made from such transactions, which crypto players have hailed as a step toward legitimising the industry, while the RBI has called for a complete ban on such activities, claiming that they pose a risk to financial stability.

"Because this is a new and still-emerging manner of investment, advertising of virtual digital assets and services need specific direction." As a result, customers must be made aware of the risks and advised to proceed with caution," said ASCI chairman Subhash Kamath.
Advertisers will be required to include a disclaimer stating that "crypto goods and NFTs are unregulated and can be highly dangerous," according to the guidelines. There may be no regulatory remedy for any losses incurred as a result of such transactions." in a prominent way.

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