Market Cap: $3,532,043,383,936
24h Vol: $90,506,682,984
Cryptocurrencies: 24715
Markets: 95953
Cryptocurrencies: 24715
Markets: 95953
Market Cap: $3,532,043,383,936     
24h Vol: $90,506,682,984
Seeking Alpha 2023-02-06 16:30:31

U.K. financial watchdog warns crypto companies of imprisonment if new ad rules breached

U.K. financial watchdog warns crypto companies of imprisonment if new ad rules breached
If cryptocurrency-related firms in the U.K. violate the Financial Conduct Authority's restrictions on financial promotions, then they can be subject to up to 2 years in prison, the country's regulator said in a release Monday. The regime will come into force only if Parliament approves it. Some of the rules include requiring firms to use certain risk warnings, in addition to the requirement that their promotions are clear, fair and not misleading. "This regime will apply 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 said . Increased regulatory scrutiny of the crypto space is taking hold following the huge failure of crypto exchange FTX ( FTT-USD ) and other high-profile implosions. In the U.S., senator Tim Scott (R-SC) was said to have mapped out his priorities for a bipartisan regulatory framework for cryptos .
esptco-banner img
Latest News

Videos

  • Top 5 Graphic Cards for Mining in 2022 : Discover the Best GPUs for Cryptocurrency!

  • What is Basic Attention Token (BAT)? (EXPLAINED)

  • How to Buy BTC with Coinbase?

  • What Is Better ? Hardware Mining or Software Mining? Pros & Cons Fully Explained!

Our Partners

Hashing Ad Space
Inbound Junction
Magic Logix
Asimi
Crypto Marketing Agency, FINPR
Chainwire