幸运飞行艇官方开奖记录查询 FCA crypo crackdown sees scores of alerts on day one

The Financial Conduct Authority is bigging up its crackdown n cryptoasset advertising after it issued 146 alerts about dodgy promotions on the first day of its new regime.

Legit Crypto Mining, Wavy Crypto, Safe Cryptomining Fx, Markets Analyst and CryptoGold are among the firms which have had alerts placed against them, which just goes to show you cannot trust brand names in this market.

Firms wishing to promote cryptoassets in the UK must, by law, be authorised or registered by the FCA, or have their marketing approved by an authorised firm.

Under FCA rules, promotions must also be clear, fair and not misleading, labelled with prominent risk warnings and must not inappropriately incentivise people to invest. These changes bring cryptoassets in line with other high-risk investments.

The financial promotion regime applies to all firms marketing cryptoassets to UK consumers, regardless of whether the firm is based overseas or what technology is used to make the promotion. The FCA’s rules are designed to help people understand what they are purchasing, and the risks involved.

The regulator says its expects businesses, including social media platforms, app stores, search engines, domain name registrars and payments firms, to consider the alerts it has issued and play their part in protecting UK consumers from illegal promotions.

It advises consumers to check its new “Warning List” before making any investment in crypto. The list is designed to help consumers understand where firms’ promotions may be breaking the law and to consider the promotion with the full information available.

However, the FCA stresses it takes a risk-based approach, so not all firms of potential concern will be added straightaway. This list will be continually updated as it identifies firms which may be illegally communicating cryptoasset promotions and are failing to engage constructively.