FCA has issued 146 alerts about financial promotions in the first 24 hours of the new crypto marketing regime. These alerts contain the names of companies which may be illegally communicating cryptoasset promotions. The new crypto marketing regime came into force on 8 October and follows the publication of the crypto promotion final rules.
FCA warns that it expects businesses such as social media platforms, app stores, search engines, domain name registrars and payment firms to consider the alerts and have a role to play in protecting UK consumers from illegal promotions. Consumers have also been advised to check the FCA Warning List before making any investment in crypto and to consider any promotion with the full information available.