Auto Culture

Crypto Advertising Truncated For 2022 Singapore Grand Prix

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The 2022 Singapore Grand Prix is the next race on the Formula One schedule on Sunday, October 2, 2022 – but you won’t be seeing all those advertisements for controversial cryptocurrency companies around the track as city officials in Singapore have mandated that a ban be placed on companies hawking crypto on track venue locations. The ban, however, will not apply to cars or the drivers’ uniforms.

Despite the worldwide reach of Formula 1 racing, Singapore city officials have deemed crypto ads to be advertising affecting the local population as well – and therefore, subject to local rules and regulations, which means they will be banned at the venue for this race. FTX Trading is one of the sponsors of the Mercedes team, Bybit is sponsoring Red Bull and Crypto is a sponsor of Aston Martin and also, ironically, based in Singapore.

The 2022 Singapore is next up on the 2022 F1 racing schedule due to the 2022 Russian Grand Prix – originally scheduled to take place after the Italian Grand Prix – was cancelled after that country’s invasion of Ukraine.

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