UK regulator excludes cryptocurrencies from new advertising rules

The Financial Conduct Authority (FCA) approved stricter rules to curb misleading advertising related to high-risk investment products. About this говорится in a press release.

The requirements do not affect cryptocurrencies. According to the FCA, the final rules for promoting digital assets will be issued after the government and parliament confirm that this sector falls within the regulator’s remit.

“These rules are likely to follow the same trajectory as those chosen for other high-risk investments. Cryptocurrencies remain high-risk [products], so people should be prepared to lose all their money if they decide to invest,” according to the statement.

The FCA stressed that the new requirements are intended to help consumers better understand the risks associated with investments. In their view, this will enable citizens to choose financial products that match their level of experience.

In January 2022 the regulator published a draft of advertising rules, introducing a ban on marketing campaigns without assessing users’ financial knowledge and experience. The rules did not extend to non-fungible tokens.

Earlier the UK Advertising Standards Authority began considering the option of adding a disclaimer to cryptocurrency-related advertising.

In July, a Financial Services and Markets Bill was introduced in Parliament, which included regulation of digital assets.

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