The Advertising Standards Council brought 'Guidelines for Advertising of Virtual Digital Assets and Linked Services’ to the country. BWA, the Bharat Web3 Association, has been collaborating with the Advertising Standards Council of India to reflect on revising the 'Guidelines for Advertising of Virtual Digital Assets and Linked Services’ in India. After extensive deliberations, two significant updates have emerged.
Saying Goodbye to Caption Disclaimers
Disclaimers in the captions of social media posts are coming to an end. Instead, they will now only be required for images and videos in the social media sphere. This move cuts the time required to craft the captions. Removal of the disclaimer from the social media captions will give freedom to the time boundation required to create the caption for crypto-ads.
Extending the Video Horizon
Second, the definition of a 'long format video' is videos exceeding 10 minutes now. They were previously defined as videos exceeding 2 minutes. This expansion opens up exciting possibilities for spreading more awareness content for the crypto world in India.
Longer, longer-format videos mean more room for crypto awareness content in India.
BWA will continue to collaborate with ASCI for a better crypto future. ASCI's vision includes championing consumer interests and promoting responsible advertising practices. In the future, we can expect more ways to create transparency within the crypto industry, equipping investors with access to a treasure trove of education and awareness videos.
It's a step towards embracing new technologies and emerging asset classes, fostering a more progressive and collaborative environment.
A better framework will help India realize its vision of leading a digital economy. The revision of the framework provides an effective platform for members to engage with different regional and worldwide stakeholders in a collaborative, open, and transpare nt manner. They can now identify solutions and best practices.
The Bharat Web3 Association, an apex body for leading Web3 technologies in India, and its members are committed to consumer and user awareness and protection and to building a strong and compliant VDA and Web3 ecosystem in India. The Bharat Web3 Association advocates for collaboration between regulatory bodies and the industry to create awareness about new-age technology and the emerging asset class.
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