Broadcasting rules and crypto adverts: restrictions on crypto adverts in Taiwan
Broadcasting regulations
How do broadcasting regulations apply to crypto ads?
Crypto adverts have been widespread till June 2022, when Google introduced an growth of its guidelines round adverts regarding monetary services in Australia, Singapore and Taiwan, in partnership with their respective native authorities. This growth will present extra safety from fraud and scams for shoppers.
The Satellite tv for pc Broadcasting Act and its related guidelines, printed by the Nationwide Communications Fee (NCC), apply to all satellite tv for pc TV channels receiving touchdown licences and thus carried by cable TV programs and media on demand digital platforms in Taiwan. The contents of programmes or adverts transmitted by a satellite tv for pc TV channel should not violate obligatory or prohibitive rules beneath the regulation. Accordingly, the NCC has banned adverts regarding tobacco merchandise, playing promotion and solicitation on all satellite tv for pc TV channels. Additional, product placement advertising and marketing for the next merchandise, companies and related logos are additionally forbidden pursuant to the Regulations for the Distinction between Television Programs and Advertisements, Product Placement Marketing, and Sponsorship:
tobacco;alcohol;worldwide matchmaking;prescription medication or medication designated by central competent well being authorities;unlawful commodities and companies; andother commodities forbidden from promoting by regulation.
Nevertheless, except there may be particular regulation requiring prior approval of the adverts from the opposite acceptable authorities, the NCC neither requires an advert to be licensed earlier than being proven in Taiwan nor imposes censorship on TV adverts.
Nonetheless, the NCC’s implementation of advert regulation is intently linked to the Consumer Protection Act. Article 23 of the Shopper Safety Act demonstrates that advert disclaimers could not have the authorized results that the advertisers and digital media platforms could have supposed:
The place media is aware of or ought to have identified that the contents of the commercials are inconsistent with the information, shall be collectively and severally liable to shoppers for his or her reliance upon such commercials.
Harm legal responsibility set forth at earlier paragraph can’t be restricted or waived by any settlement upfront.
How does broadcasting regulation apply to crypto adverts?
In Taiwan, there isn’t a home laws that instantly applies to crypto property, though operations utilizing cryptocurrencies could fall beneath current legal guidelines – particularly, compliance necessities regarding anti-money laundering (for additional particulars, see “How are crypto assets regulated in Taiwan?”). Despite numerous consumer complaints on false, misleading and deceptive crypto ads pending further investigation of relevant authorities (including police and prosecutors), there is no law requiring prior approval on the placement of TV and/or digital ads pertaining to crypto assets providers or crypto products in Taiwan. An advertiser need not be licensed before advertising in Taiwan either.
The placement of TV or online digital ads may be either a brand awareness campaign or a “call to action” relating to specific products or services. In either case, it should be carefully distinct from news and programme content, as highlighted by the NCC.
Leading media companies such as Facebook and Google are cooperating with the Taiwanese authorities to enhance consumer protection against fraud and scams. Ad disclaimers do not relieve advertisers and media of their responsibilities subject to the Consumer Protection Act.
For further information on this topic please contact Arthur Shay at Shay & Companions by phone (+886 2 8773 3600) or electronic mail ([email protected]). The Shay & Companions web site might be accessed at www.elitelaw.com.
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