The United States Federal Trade Commission (FTC) is targeting certain crypto companies over deceptive or misleading advertising. With the latest move, the FTC appears to follow in the footsteps of the SEC as the crackdown on the ecosystem broadens.
According to a Bloomberg report, FTC spokeswoman Juliana Gruenwald Henderson said:
“We are investigating several firms for possible misconduct concerning digital assets.”
Henderson, however, declined to provide further details regarding which firms were being targeted by the authorities.
FTC’s official website states that “under the law, claims in advertisements must be truthful, cannot be deceptive or unfair, and must be evidence-based. For some specialized products or services, additional rules may apply.”
The agency essentially upholds laws that require truth in advertising, including rules that individuals reveal when they have been paid for endorsements or reviews.
Several high-profile influencers, such as Kim Kardashian, have
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