Chinese investment company Crypto Asked to remove London Underground Advertising

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Shadrach   in Crypto & Trading

Last updated: 21 February 2020, 03:39 GMT

The UK's financial watchdog has asked a bitcoin investment firm based in China to get rid of ads from the London Underground for its operation.

According to a report from this is often Money late last week, the Financial Conduct Authority (FCA) skilled criticism it had been slow to act after the financial news site reported the ads, saying it had come to an agreement with the firm fortnight ago to require the ads down.

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The firm in question, Zeux, is reported to possess placed ads touting a savings scheme with fixed 5 percent returns. this is often Money said it found the investments were converted into cryptocurrency and sent to China for investment there – a fact, it said, wasn't stated within the ads.

While these discussions are continuing, the firm agreed on [Jan. 24] to pause the sale of the merchandise to new customers and to prevent all marketing activity concerning the merchandise , including on their website, social media and public advertising on the transport network of the merchandise in question.

the FCA said in its response.

The report suggests the ads are still "widespread" on the London Underground Railroad system.

The FCA said some ads had been put up before it had spoken to Zeux which it takes a while before they will be removed, "given the dimensions of the network."

The firm has agreed to pause the sale of the merchandise to new customers whilst our discussions are continuing.

the FCA added.

Frank Zhou, Zeux founder and CEO, had previously told this is often Money the corporate was working to suits the FCA request.

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