The Board of Control for Cricket in India (BCCI) has banned all teams playing in the upcoming Women’s Premier League (WPL) from signing contracts with crypto-related advertisers. The federation has released a 68-page guide outlining the dos and don’ts for all teams ahead of the league going live on March 4. Indian authorities fear the ad could expose viewers to financial risks. In addition to crypto ads, those promoting gambling and tobacco use have also been added to BCCI’s banned list.
“The franchisees can partner with companies in the fantasy sports sector. No franchisee may enter into a partnership or any type of association with any company that is in any way connected/affiliated with any company directly or indirectly involved/operating in the cryptocurrency sector,” according to PlanetSport quoted the BCCI, as it says in its report.
Essentially, the WPL is the sister tournament to the popular Indian Premier League (IPL), which began in 2008. This year, for the first time, women cricketers from around the world, divided into five teams, will compete in a twenty-over format.
Australia’s Ash Gardner and England’s Nat Sciver-Brunt emerged as the most expensive foreign players picked by the WPL teams, falling by Rs. 3.2 crore and Rs. 3.4 million to Gujarat Giants and Mumbai respectively Indians. Indian batter Smriti Mandhana was the most expensive player at the auction, going to Royal Challengers Bangalore for Rs. 3.4 million. All-rounder Deepti Sharma was the second most expensive Indian cricketer at the auction, going to UP Warriorz for Rs. 2.6 crore, while India’s captain Harmanpreet Kaur was snapped by Mumbai Indians for Rs. 1.8 crore.
Last year, the IPL partnered with Indian crypto exchanges CoinSwitch And CoinDCX, both promoting their platforms during the highly regarded games. Later, the BCCI also banned crypto advertising during the IPL.
India is working on formulating laws around the crypto sector. Under its running G20 Presidency works with the country International Monetary Fund (IMF) To create crypto laws that would work on a global scale.
The country has so far maintained a strict approach to protecting its citizens from exposure to the volatile industry. Last year, India banned celebrities and influencers from signing deals with crypto-related companies.
