Arsenal Banned From Running Ads For Crypto Fan Tokens

By Irene Madongo (December 22, 2021, 6:25 PM GMT) -- The Advertising Standards Authority on Wednesday banned Arsenal Football Club from republishing two posts promoting crypto-based fan tokens after it found they broke rules and took advantage of consumers' inexperience.

The advertisements comprised a webpage published on Aug. 6 explaining the benefits of the Arsenal fan token, and an Aug. 12 post on the club's Facebook page saying fans could download a Socios app to get a token and vote on what song should be played when the team wins.

Socios is a platform that offers so-called fan tokens, which it says gives fans the power to influence decisions at their...

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