Just In: UK Regulator Publishes Date Crypto Ad Compliance Will Kick Off
FCA Calls for Compliance Riding on the announcement, the FCA said it has written to local and foreign firms that are marketing crypto-assets to UK customers, requesting that they comply with the incoming crypto ad compliance guidelines or face the risk of criminal charges of up to 2 years imprisonment. advertisement FCA Crypto Financial Promotions Lead Jayson Probin confirmed in a LinkedIn post that defaulters would be punished when discovered while adding that “This is a critical change for the industry.” This is not the first time such notifications will be issued to crypto influencers. Earlier this year, the FCA warned social media giants to do more “to protect consumers.” Also, FCA Executive Director Sheldon Mills stated that whilst it is up to people to decide whether they want to buy crypto or not, research has shown that they end up making a hasty decision which costs them in the end. However, the new crypto promotions r...