The Board of Control for Cricket in India (BCCI) on Tuesday announced that cryptocurrency firms and real money gaming companies will not be allowed to bid for the Indian national cricket team’s lead sponsorship rights. The decision was revealed after the release of the BCCI’s new Invitation for Expression of Interest (IEOI), which closes on September 16. Interested parties are required to pay a non-refundable registration fee of Rs. 5 lakh (plus GST) to participate in the bidding process.
This Ruling Highlights Rising Regulatory Pressure On Crypto Advertising In India
Companies involved in “crypto trading, crypto exchange, crypto token, online money gaming, betting, gambling services, or similar services” are expressly prohibited from applying for the sponsorship rights, as per the guidelines laid down by the BCCI. No exemptions will be given because the restriction also applies to the proxy branding and indirect partnerships with cryptocurrency companies. As a result, the restrictions on cryptocurrency sponsorships are more rigid than ever.
The ban comes after intensifying scrutiny of crypto promotions in India. Regulators have frequently raised concerns regarding investor protection, particularly in retail markets. Based on deceptive advertising campaigns with Bollywood celebrities, the Securities and Exchange Board of India (SEBI) previously proposed outlawing celebrity sponsorships of cryptocurrencies.
BCCI’s rejection of crypto and real money gaming firms from cricket sponsorships sends a clear message, as this space is among the high-visibility marketing opportunities in India. The ban underscores the challenges that crypto companies in India have to face as regulatory pressure mounts, while many of such companies are eager to use sports as a mainstream advertising avenue. This step also shows how sports institutions are aligning with financial regulators to reduce exposure to the volatility of high-risk assets.
As cricket is off-limits and advertising restrictions are tightening, exchanges and blockchain firms will need to explore different ways to capture the attention of Indian audiences.
Industry observers suggest that the exclusion of crypto companies from such a high-profile sponsorship opportunity could also limit the adoption of crypto trading in the eyes of the general public, as cricket is India’s most-watched sport, and sponsorship visibility would have translated into mainstream acceptance. This move is also expected to trigger a wider debate on whether other sports bodies will follow the BCCI’s footsteps in distancing themselves from the crypto sector.
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