The Delhi High Court has issued a notice in response to a petition seeking the establishment of guidelines or laws against cryptocurrency exchanges in India.
WazirX, CoinDCX, and CoinSwitch Kuber may need to add explicit disclaimers to their TV commercials. The petition names three well-known crypto exchanges as respondents, all of which are based in India and promote marketing for investments.
In response to a complaint that the currency disclaimers are too small to read, the Delhi High Court issued a notice requiring Indian exchanges to include 'standardized' disclaimers in their advertisements.
The judgment was made by a court presided over by Justices DN Patel and Jyoti Singh, who took into account the risk borne by Indian crypto-asset exchanges. The action by the Delhi High Court occurred after India's largest cryptocurrency exchange began receiving sponsorship deals for high-profile events such as the Euro 2020 football championships, the Indian Premier League (IPL) cricket competition, and the India-Sri Lanka T20 tour.
India isn't the only country worried about cryptocurrency advertising. The Advertising Standards Authority (ASA) in the United Kingdom is likewise cracking down on cryptocurrency advertisements. On its to-do list, IT has designated cryptocurrency marketing campaigns as a "red alert" priority.