The UK Financial Conduct Authority (FCA) has introduced new rules to regulate the promotion of cryptocurrencies. The rules aim to ensure that individuals have the necessary knowledge and experience before investing in crypto and that advertisements are clear, fair, and not misleading. The FCA’s executive director, Sheldon Mills, emphasized that consumers should be aware of the high risks associated with crypto investments and be prepared to lose all their money. The FCA’s research shows that crypto ownership has more than doubled from 2021 to 2022, with 10% of the surveyed individuals stating that they own crypto. The new rules are part of the FCA’s efforts to reduce and prevent harm, set higher standards, and promote competition and positive change. The FCA is also seeking public input through a consultation process and plans to provide additional guidance to firms advertising crypto to UK consumers.
HomeDIGITAL ASSETS REGULATORYregulation uk newsFCA announces stringent regulations for advertising cryptocurrency assets