Crypto Ad Ban In UK A Failure? 50% Still Active Despite Restrictions
The Financial Conduct Authority, the UK’s financial watchdog, faces challenges in enforcing its rules on illegal crypto advertisements. Despite flagging 1,702 illegal cryptocurrency ads, websites, and apps between October 2023 and October 2024, only 54% were removed online, with nearly half still active and luring potential investors or unsuspecting victims, the Financial Times disclosed.
The FCA has the authority to regulate these advertisements and file criminal cases against individuals or groups that violate a new law that aims to fix the messy side of the country’s crypto markets.
The current rules allow the FCA to review and approve these ads or crypto-related businesses before publishing or running online. Despite…
