FCA struggles with crypto ads as UK looks to encourage crypto compliance
The United Kingdom faces mounting challenges in regulating crypto advertising as the Financial Conduct Authority (FCA) grapples with widespread violations, the Financial Times reported on Jan. 1.
According to the report, the FCA issued 1,702 alerts against potentially misleading crypto ads between October 2023 and October 2024, yet only 54% resulted in content removal.
Despite the regulator’s authority to fine or prosecute violators, the FT states that it has focused much of its recent efforts on social media influencers promoting risky financial schemes. According to the report, nine individuals, including reality TV stars, are facing criminal charges, with investigations ongoing for 20 others.
However, the FT reported that former FCA…
