Place/Date: - May 15th, 2022 at 4:21 pm UTC · 3 min read
Source: Calyx Token
Last year TfL decided not to advertise cryptocurrencies on the underground due to fear of ‘misleading’ campaigns that imply big gains for investors. The investigation was sparked following a Floki Inu (FLOKI) campaign on the underground that stated ‘Missed Doge? Get Floki’. The volatility of the crypto market raised concerns for some politicians, as they felt that advertising on the underground would encourage people to take huge financial risks.
At the time the market was more buoyant than it is now. Following the market dip, could the reasons behind this ban make investors lose faith in crypto, or do new coins like Calyx (CLX) provide enough hope?
Cryptocurrency is considered a ‘red alert area’ for TfL advertising because the jargon is often difficult to understand, and the market is so unpredictably volatile. There is a specific concern about misleading the public into a promise of quick riches that the market can’t guarantee to fulfill.
This isn’t the first crypto advertising scandal either, a few months previously another advert stating ‘it’s time to buy Bitcoin’ was also been removed by TfL for fear of selling a ‘get-rich-quick’ vision of cryptocurrency. Regulators wanted to ensure that crypto advertising was not taking advantage of the public’s lack of experience, and it needed to be made clearer that the market can go both up and down.
TfL is also concerned about the anonymity of cryptocurrency creators. Bitcoin’s ‘Satoshi Nakamoto’ is infamously unknown and it’s becoming increasingly more popular for coins to have anonymous issuers. This is causing concern because of the difficulty to regulate coins and hold their creators accountable.
Considering the market dip following these regulations, it seems that TfL was right to be concerned about crypto advertising with the market currently proving its volatility. However, will new coins regain the public’s interest and faith in crypto investment?
Calyx (CLX) is a community-driven coin with a purposefully anonymous team of issuers. Community coins like Calyx purposefully avoid naming their creators, as they want their investors to control the coin. Decisions are made through democratic voting and users are given power over the coin. Far from the concerns of unregulated illegal activity, this decision aims for complete transparency and honesty.
It is always important to clarify that investing in cryptocurrency carries a risk, especially at a time when the market is steeply declining. However, combining the fixed-price presale of Calyx (CLX) with its permissionless exchange process makes Calyx a very promising new coin. With lots of popular decisions and a CertiK audit on the way, this coin appears to have an increased chance of making impressive returns despite the current market conditions.
Therefore, although it’s understandable to have advertising concerns around cryptocurrency due to the market volatility, there is hope for crypto’s growth despite these tight TfL regulations. We are, in no doubt, going to hear a lot more about crypto in the future despite these restrictions.