Arsenal, a professional football club that is based in North London, has been reprimanded by the Advertising Standards Agency (ASA) over its partnership with digital fan token company Socios, The Evening Standard reports.
The ASA has complained that the club has failed to add any risk warnings that would alert consumers about risks associated with such crypto assets.
The British adverting watchdog slammed the promotional campaign, which took place on social media and Arsenal’s website, as “irresponsible.”
Apart from Arsenal, Socios has also partnered with Manchester City and other prominent clubs.
As reported by U.Today, the ASA also banned cryptocurrency a controversial ad campaign conducted by Dogecoin offshoot Floki Inu.