Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»The FCA has issued 450 warnings about illegal cryptocurrency promotions in 2023.
ADOPTION NEWS

The FCA has issued 450 warnings about illegal cryptocurrency promotions in 2023.

By Crypto FlexsFebruary 16, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The FCA has issued 450 warnings about illegal cryptocurrency promotions in 2023.
Share
Facebook Twitter LinkedIn Pinterest Email
Policy • February 15, 2024 1:17 PM EST

Posted 1 minute ago In ~

The Financial Conduct Authority used a new report this week to outline the extent to which it has focused on illegal cryptocurrency promotions aimed at UK consumers over the past year.

To help consumers avoid falling victim to fraud, the regulator has issued a total of 2,285 warnings over the past year, with 450 in the fourth quarter of 2023 specifically targeting illegal cryptocurrency promotions targeting UK consumers.

Regulators have withdrawn or modified more than 10,000 financial ads and other promotions in 2023, according to data released Wednesday. This is a 17% increase compared to the previous year.

Examples of enforcement interventions by the FCA in 2023 include taking action against companies offering eligible crypto assets without identifying web pages that constitute financial promotions. The FCA also said it had provided feedback to cryptocurrency companies using affiliates to promote their products without a clear governance framework to ensure that promotions run by affiliates were legitimate.

The FCA’s Financial Promotions Regulations

The FCA’s Financial Promotion Rules for Cryptocurrencies came into effect on 8 October 2023. In the new guidance, the regulator warned that cryptocurrency memes found not to comply with the new rules could potentially lead to criminal offences.

The FCA said that to ensure compliance, firms must announce financial promotions that are clear, fair and not misleading. Companies wishing to promote financial products must display clear risk warnings and disclose their regulatory status.

Regulators have also expressed concern about the rise in influencers promoting financial products.

Lucy Castledine, director of consumer investments at the FCA, said: “People need clear, fair and accurate information on which to base their financial decisions. We will continue to intervene and take action when we identify businesses that do not meet our minimum standards.” said.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Brian McGleenon is The Block’s UK markets reporter. He has worked as a financial journalist and producer for several news outlets such as Fuji Television, The Independent, Yahoo Finance, The Evening Standard and The Daily Express over the years. Brian is also a screenwriter and producer with one feature film and one in development at Northern Ireland Screen. In addition to web3 and cryptocurrency development, he is also interested in geopolitics, environmental issues, artificial intelligence, and longevity studies. Contact us via email (email protected).
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 2025

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Coinbase adds a pancake swap to Roadmap to Surges for BNB Chain Dex to record $ 173,000,000 in monthly.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025
Most Popular

$2.4 million in fees spent on Bitcoin halving block in 2024 recorded

April 22, 2024

AAVE’s Rally Faces Market Resistance – What Does the Future Hold for Cryptocurrencies?

September 16, 2024

The largest cryptocurrency attacks and hacks in 2023

December 26, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.