Jump to
Main Blog Regulation FCA's guide about crypto ads

FCA's guide about crypto ads

Pic 1

On July 17, the FCA (Financial Conduct Authority), the financial regulator of the United Kingdom, proposed new guidelines for advertising financial products on the internet. These specifically address promotional memes and financial influencers, also known as “finfluencers”. According to the guidance, crypto memes would be treated as regular advertising and subject to similar rules.

The FCA has expressed concerns about an increasing number of finance-oriented influencers promoting financial products without sufficient knowledge about them. Many of these influencers target younger demographics, who are susceptible to misinformation and hype. Therefore, influencers who fail to meet the compliance standards in their promotions could face up to two years in jail, unlimited fines, or both.

The aim of these new regulations is to mitigate the potential risks posed by non-compliant online practices, particularly on social media platforms like TikTok, where financial promotions have gained significant attention. Firms involved in promoting financial products, including those within the crypto sector, will be required to include risk warnings and avoid investment incentives.

Also read: Confiscations and ads control in the UK

Maria Kachura
Maria Kachura

Visit her on Facebook or hit her up via Email.

0
Share this post
Similar articles
Best investment options for 2023
Markets
16 February, 2023
Best investment options for 2023
Let’s explore all the pros and cons of currencies, cryptocurrencies, stocks, real estate, and precious metals.
The difference between coin and token: understanding crypto assets
Learn
24 April, 2024
The difference between coin and token: understanding crypto assets
Discover the key differences between coins and tokens in the cryptocurrency ecosystem. Learn about their features, roles, and examples in this comprehensive guide.
NFT NYC 2022!🌐🦄
Events
20 June, 2022
NFT NYC 2022!🌐🦄
NFT NYC 2022.
AIBC Americas 2022
Events
8 June, 2022
AIBC Americas 2022
AIBC Americas 2022.
ETH NEW YORK 2022 🌐🦄
Events
24 June, 2022
ETH NEW YORK 2022 🌐🦄
ETH NEW YORK 2022.
Top 5 NFT games in 2024: the future of blockchain gaming
Learn
19 June, 2024
Top 5 NFT games in 2024: the future of blockchain gaming
In this guide, the itez team has gathered the freshest and most exciting information about the Play-to-Earn (P2E) segment and NFT games.