The UK Advertising Standards Authority has banned a series of Coinbase advertisements after ruling that the campaign presented cryptocurrency as a response to cost-of-living pressures while downplaying investment risks. The decision affects a two-minute satirical video and three poster ads that appeared online and in major public transport locations across the UK.
According to the regulator, the ads were “irresponsible” and “trivialized the risks of cryptocurrency,” a conclusion first reported by The Guardian. The ASA said the campaign implied that using Coinbase could offer relief from rising household costs, an approach the watchdog said breached UK advertising rules.
Satirical video drew regulator scrutiny
The video advert, first released in July, portrayed a stylized vision of everyday life in Britain. Characters sang the repeated line “everything is just fine, everything is grand” as their homes deteriorated, power cuts disrupted daily routines, and rubbish piled up in the streets. Scenes included rats running through littered roads, shoppers reacting to higher food prices, workers losing jobs, and sewage pipes bursting.
The clip ended with the line “If everything’s fine, don’t change anything,” which then cut to the Coinbase logo.
The ASA said the tone and structure of the advert risked encouraging viewers to view cryptocurrency as an obvious response to financial stress.
“We considered that using humour to reference serious financial concerns, alongside a cue to ‘change,’ risked presenting complex, high-risk financial products as an easy or obvious response to those concerns,” the ASA said.
Clearcast, the body that approves television advertising in the UK, had already rejected the video on similar grounds. Clearcast said the advert portrayed crypto as a “potential solution to economic challenges, without sufficient evidence for this claim.” Despite the television ban, the ASA found that the video circulated widely online across multiple platforms.
Posters removed from public transport sites
The ASA ruling also covered three Coinbase posters that appeared in high-traffic areas such as the London Underground and major rail stations. The posters featured large black text with phrases such as “home ownership out of reach,” “real wages stuck in 2008,” and “eggs now out of budget.”
Each poster included repeated background text that read “Everything is fine,” followed by the slogan “If everything’s fine, don’t change anything” alongside the Coinbase logo.
The watchdog said none of the materials contained any information about the risks of cryptocurrency investment. The UK Financial Conduct Authority has warned that crypto remains “largely unregulated and high risk,” and has stated that buyers should prepare to lose all of their money.
Coinbase defends campaign intent
Coinbase rejected the ASA’s assessment and defended the campaign’s creative approach. A spokesperson said the adverts aimed to encourage discussion rather than offer financial solutions.
“While we respect the ASA’s decision, we fundamentally disagree with the characterisation of a campaign that critically reflects widely reported economic conditions as socially irresponsible,” the spokesperson said.
“The advert was intended to provoke discussion about the state of the financial system and the need to consider better futures, not to offer simplistic solutions or minimise risk.”
The spokesperson added that Coinbase believes digital assets can play a role in a more efficient financial system, while acknowledging that crypto does not serve as a universal fix.
Osborne advisory role adds political dimension
The ruling arrives amid heightened attention on Coinbase’s UK positioning. The company appointed former UK chancellor George Osborne as chair of its global advisory council in December, following two years in an advisory role. Coinbase said Osborne would assist with engagement efforts involving policymakers in the UK and the European Union.
Osborne has publicly argued that the UK risks falling behind in crypto innovation. In a Financial Times column published last August, he warned that the country could miss a second wave of demand if regulatory uncertainty persists.
The former chancellor also joined OpenAI as an adviser last month and currently serves as chair of the British Museum.
UK maintains strict line on crypto promotions
The ASA has repeatedly intervened in crypto advertising over the past several years. Previous actions included bans on ads from Coinfloor, Crypto.com, and Turtle United, with regulators citing insufficient risk disclosure and concerns about audience targeting.
UK authorities continue to finalize a broader regulatory framework for crypto assets. This cautious approach has coincided with a drop in retail crypto ownership, which fell from 12% in 2024 to 8% in 2025, according to new YouGov consumer research conducted on behalf of the Financial Conduct Authority.
For Coinbase, the ban reinforces the narrow limits placed on crypto marketing in the UK. While the exchange frames its messaging as cultural commentary, regulators remain focused on consumer protection standards and explicit risk disclosure.
Anastasiia G
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