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Unauthorized advertisements for cryptocurrency projects in the United Kingdom continue to surface despite efforts by the Financial Conduct Authority (FCA) to remove them.
The FCA has rules requiring crypto-related advertisements to gain approval from either the FCA itself or a registered entity before they go live. However, no fines have been imposed on companies failing to comply.
Instead of pursuing penalties, the FCA has focused on online influencers promoting these ads.
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These individuals often encourage investment in crypto schemes without fully addressing the risks. By targeting influencers, the regulator aims to suppress misleading promotions at their source.
Between October 2023 and October 2024, the FCA issued 1,702 alerts about illegal crypto ads. 54% of these ads resulted in the removal of non-compliant promotions, but the remaining ads are still accessible.
In response to FCA regulations, Google updated its advertising guidelines for crypto-related content. Starting January 15, 2025, advertisers offering crypto exchanges or services in the UK must register with the FCA to run ads.
Hardware wallets and non-fungible tokens (NFTs) are still allowed to advertise, provided they do not offer buying, selling, or trading services. Google also reminded advertisers to follow local laws when targeting specific regions.
Meanwhile, the FCA seeks feedback from crypto industry experts, with responses due by March 14, 2025. What is it for? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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