FCA sends 146 alerts in first day of crypto promotion regime

Unauthorised firms

The Financial Conduct Authority has issued 146 alerts against crypto firms, which were not registered or regulated to promote cryptoassets.

The alerts took place on the first day of the new crypto marketing regime (8 October), which requires firms wishing to promote cryptoassets in the UK to be authorised or registered by the FCA. FCA details penalties for firms breaching crypto marketing rules The regulator said: "We expect businesses including social media platforms, app stores, search engines, domain name registrars and payments firms to consider the alerts we have issued and play their part in protecting UK consumers from illegal promotions." Mike Ringer, financial services partner at law firm CMS, noted the FCA ha...