The Board of Control for Cricket in India (BCCI) has banned all teams playing in the upcoming Women’s Premier League (WPL) from signing deals with crypto-related advertisers. The federation has issued a 68-page notice outlining the do’s and don’ts for all teams ahead of the league going live on March 4. Indian authorities are concerned that these advertisements expose viewers to financial risk. In addition to crypto ads, those that promote gambling and tobacco consumption have also been added to the BCCI’s prohibited list.
“Franchisees can engage in partnerships with entities in the fantasy sports industry. No franchisee shall enter into a partnership or any kind of association with any entity that is in any way related/linked to any entity involved/operating, directly or indirectly, in the cryptocurrency industry,” PlanetSport cited the BCCI as stated in its opinion.
Essentially, the WPL is the sister tournament of the popular Indian Premier League (IPL) which began in 2008. This year will mark the first time that female cricketers from around the world, divided into five teams, will compete in a tournament of over twenty years. format.
Australian Ash Gardner and Englishman Nat Sciver-Brunt became the most expensive overseas players picked by WPL teams, opting for Rs. 3.2 crore and Rs. 3.4 crore to Gujarat giants and Indians from Mumbai, respectively. Indian striker Smriti Mandhana was the most expensive player in the auction, for Rs. 3.4 crores at Royal Challengers Bangalore. The versatile Deepti Sharma was the second most expensive Indian cricketer at auction, for Rs. 2.6 crore at UP Warriorz, while India captain Harmanpreet Kaur was snapped up by Mumbai Indians for Rs 1.8 crore.
Last year, IPL partnered with Indian crypto exchanges CoinSwitch And CoinDCX, who both promoted their platforms during the highly watched matches. Later, the BCCI also banned the showing of crypto ads during the IPL.
India is working on formulating laws for the crypto sector. under its course G20 presidency, the country is working with the International Monetary Fund (IMF) to create crypto laws that would work globally.
The country has maintained a strict approach so far to protect its citizens from exposure to the volatile industry. Last year, India banned celebrities and influencers from signing deals with crypto-related companies.