EU consumer lobby beuc wants tougher action against social media networks with 'misleading' crypto ads. jackschickler reports.
with European Union consumer protection bodies calling for Instagram, YouTube, TikTok and Twitter to toughen their crypto advertising rules.
“Consumers are increasingly being promised ‘get rich quick’ investments by ads and influencers on social media,” Director General Monique Goyens said in a statement. “Unfortunately, in most cases, these claims are too good to be true and consumers are at a high risk of losing a lot of money without recourse to justice."
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