FCA Cracks Down on Unauthorized Crypto Ads Targeting UK Investors
The UK's Financial Conduct Authority has issued 221 warnings to overseas cryptocurrency exchanges since October 2023, when new marketing rules took effect. Unauthorized promotions now carry potential prison terms for corporate officers and unlimited fines.
Dozens of foreign platforms appear on the FCA's public Warning List as the regulator collaborates with tech firms to block illegal ads. All crypto promotions must now include prominent risk disclosures and avoid referral incentives, aligning with standards for other high-risk investments.