UK Regulators’ Attempt To Ban Crypto Ads Fails As More Than Half Remain Online: Report
The UK’s Financial Conduct Authority (FCA) is reportedly failing in its attempt to ban crypto advertisements so far.
Half of all crypto advertisements are still up in the UK, and the FCA has yet to penalize any of the companies, the Financial Times reports.
Citing data from a freedom of information request, FT says that only 54% of the 1,702 alerts issued by the FCA ended in the illegal advertisements, apps and websites being taken down.
Charles Randell, former chair of the regulator, told FT that the FCA would need to start penalizing companies that were ignoring the ban in order to end the “very frustrating” level of non-compliance.
“Ultimately, unless a very real and present threat of legal action is visible to…
