Only 54% of the 1,702 alerts issued by the United Kingdom’s Financial Conduct Authority resulted in illegal crypto ads being taken down.
Illegal crypto ads continue to appear in the United Kingdom despite its financial regulator asking crypto projects to remove their advertisements targeting the country.
According to a Financial Times report, 54% of the 1,702 alerts issued by the UK’s Financial Conduct Authority (FCA) between October 2023 and October 2024 ended in illegal crypto ads being taken down. The report said the rest of the crypto-related promotions are still up.
The FCA has not yet fined companies that failed to remove crypto ads that violate the FCA’s rules. Regulations require digital asset promotions to get approvals from the FCA or an FCA-authorized business before going live.
Read more
Read the full article here
