The UK’s financial regulator, the FCA, warned cryptocurrency companies to comply with regulations.
FCA said in a statement this week “We expect authorized firms that approve financial advertising of crypto asset firms to take their legal obligations seriously.” said.
According to the rules that came into force on October 8, cryptocurrency companies advertising to customers in the United Kingdom must either: Authorized by FCA or must have been approved by a body authorized by the FCA.
The FCA has so far cracked down on cryptocurrency firms advertising illegally in the country. Warned 221 times found:
“This list will continue to be updated on an ongoing basis as we identify companies that are illegally publishing cryptocurrency advertisements and not communicating with us constructively.”
According to the rules applied by the FCA, advertisements shared about cryptocurrencies “to be clear, fair and not deceptive” It is necessary.
Cryptocurrency exchanges Coinbase and OKX recently agreed with Archax to continue their marketing efforts in the country.
Binance, the largest cryptocurrency exchange, made an agreement with Rebuilding Society. However, the FCA falls within the Rebuilding Society’s powers. announced that it has imposed restrictions. Following this restriction, Binance stopped new member registrations in the UK.