Floki Inu Ads Under Investigation in London

Last month, Floki Inu began an advertising blitz across London's transport network — with posters about the meme coin plastered in Tube stations and on the city's iconic red buses.

But now, the U.K.'s advertising watchdog has confirmed that it is launching an investigation into these ads… and Transport for London is under increasing pressure to stop crypto projects being promoted to commuters.

The controversial ads feature the tagline "Missed DOGE? Get FLOKI" — a nod to the FOMO that some investors may have felt after Dogecoin surged in value earlier this year.

Previously, a number of crypto ads have landed in hot water with the Advertising Standards Authority because they failed to include a warning about the dangers of buying digital assets. However, FLOKI's ads do come with this disclaimer:

"Your investment may go down as well as up in value. Cryptocurrencies are not regulated in the U.K."

A number of politicians argue this warning isn't enough.

Sian Berry, a London Assembly member for the Green Party, told The Guardian:

"Where the advert says 'this is completely unregulated, you may lose all your money', they ought to have had second thoughts. I don't think cryptocurrency ads should be on the network. They’re unethical."

Is a Ban Coming? 

Transport for London says it reviews all crypto advertising before it appears on buses and trains. This is designed to ensure promotions comply with its rules, as well as those imposed by the Advertising Standards Authority.

Reading between the lines here, this suggests TfL doesn't believe that Floki Inu's billboards violate the U.K.'s rules — which, if broken, mean that ads may have to be taken down.

In an admission that arguably may be more alarming to crypto critics, TfL told The Observer newspaper that it doesn't know the real-world identities of the people behind Floki Inu and this advertising campaign.

For now, a ban on crypto advertising in the capital is not in place. However, TfL is now seeking additional guidance from the Advertising Standards Authority and the Financial Conduct Authority, meaning this ruling could change in future.

Floki Inu continues to insist that its ads comply with "all laws and regulations."