Market Cap: $2,462,068,391,601
24h Vol: $192,020,616,365
Cryptocurrencies: 23580
Markets: 87541
Cryptocurrencies: 23580
Markets: 87541
Market Cap: $2,462,068,391,601     
24h Vol: $192,020,616,365
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

  • Hardware vs Software Wallets: Which One is Better for You?

  • Solana Coin (SOL): Everything You Need to Know

  • Digibyte: What is DGB? EXPLAINED!

  • What is TRON (TRX)? EXPLAINED!

Our Partners

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