The UK’s financial watchdog has yet to penalise any company that failed to take down illegal crypto adverts, despite half of all banned promotions remaining online after the watchdog asked for their removal.
Only 54 per cent of the 1,702 alerts issued by the Financial Conduct Authority between October 2023 and October 2024 ended in the illegal crypto ads, apps or websites being taken down, according to figures obtained through a freedom of information request.
The regulator can fine or bring criminal cases against groups that breach a new law aiming to clean up a wave of promotions for the murky side of the UK’s…
