{"id":76828,"date":"2023-04-07T11:33:10","date_gmt":"2023-04-07T08:33:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76828"},"modified":"2025-09-10T19:39:35","modified_gmt":"2025-09-10T16:39:35","slug":"uk-regulators-publish-seven-point-checklist-on-crypto-advertising","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/uk-regulators-publish-seven-point-checklist-on-crypto-advertising\/","title":{"rendered":"UK regulators publish seven-point checklist on crypto advertising"},"content":{"rendered":"<p>The Financial Conduct Authority (FCA) and the United Kingdom&#8217;s Advertising Standards Authority (ASA) have joined forces to create a single set of rules for influencers promoting digital assets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We\u2019ve partnered with <a href=\"https:\/\/twitter.com\/ASA_UK?ref_src=twsrc%5Etfw\">@ASA_UK<\/a> and <a href=\"https:\/\/twitter.com\/SharonNJGaffka?ref_src=twsrc%5Etfw\">@SharonNJGaffka<\/a> to help educate social media <a href=\"https:\/\/twitter.com\/hashtag\/influencers?src=hash&#038;ref_src=twsrc%5Etfw\">#influencers<\/a> about the risks involved in promoting <a href=\"https:\/\/twitter.com\/hashtag\/financial?src=hash&#038;ref_src=twsrc%5Etfw\">#financial<\/a> products. <a href=\"https:\/\/t.co\/IwQkcc90a9\">https:\/\/t.co\/IwQkcc90a9<\/a><\/p>\n<p>\u2014 Financial Conduct Authority (@TheFCA) <a href=\"https:\/\/twitter.com\/TheFCA\/status\/1643916812579491840?ref_src=twsrc%5Etfw\">April 6, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The regulators published <a href=\"https:\/\/www.fca.org.uk\/multimedia\/fca-and-asa-team-warn-finfluencers-risks-promoting-illegal-get-rich-quick-schemes\">\u043a\u043e\u043d\u0442\u0440\u043e\u043b\u044c\u043d\u044b\u0439 \u0441\u043f\u0438\u0441\u043e\u043a<\/a> of seven points detailing the rules for crypto advertising.<\/p>\n<p>The document on \u201cfinfluencers\u201d asks them to consider whether they are \u201cthe right people\u201d to promote the product. The agencies also reminded that their followers may \u201close all their money\u201d due to risky investments.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cDon\u2019t tell your followers that digital assets are a simple investment solution, and don\u2019t create a sense of urgency or <span data-descr=\"fear of missing out (FOMO)\" class=\"old_tooltip\">FOMO<\/span>,\u201d the document says.<\/p>\n<\/blockquote>\n<p>In addition to due diligence, bloggers must obtain FCA approval and ensure that the advertisement is legal, truthful, and labelled as sponsored material in accordance with ASA standards.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIf in doubt, don\u2019t advertise,\u201d the checklist slogan says.<\/p>\n<\/blockquote>\n<p>Unlawful promotion of financial products or services is a crime punishable by up to two years\u2019 imprisonment or a substantial fine, the regulators note.<\/p>\n<p>The FCA and ASA also signed a partnership with former British reality TV participant Sharon Gaffka to underline the risks associated with crypto marketing.<\/p>\n<p>Earlier, the UK authorities <a href=\"https:\/\/forklog.com\/en\/news\/britain-to-tighten-cryptocurrency-regulation\">unveiled<\/a> a three-year &#8220;Economic Crime Plan,&#8221; envisaging measures to strengthen countermeasures against the use of cryptocurrencies for criminal purposes.<\/p>\n<p>In February, the FCA <a href=\"https:\/\/forklog.com\/en\/news\/british-regulator-threatens-imprisonment-for-unauthorized-crypto-advertising\">warned<\/a> that violations of restrictions on promoting financial products could carry a prison sentence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FCA and ASA have published a seven-point checklist for crypto advertising, urging influencers to seek FCA approval, ensure ads are legal and truthful, and label them as sponsored content. They warn that promoting financial products illegally carries penalties and have partnered with former reality TV participant Sharon Gaffka to highlight crypto marketing risks. Earlier, the UK unveiled a three-year plan to counter economic crime; in February, the FCA warned that breaches of promo rules could carry prison time.<\/p>\n","protected":false},"author":1,"featured_media":76829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[516,36,810],"class_list":["post-76828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-advertising","tag-regulation","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=76828"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76828\/revisions"}],"predecessor-version":[{"id":76830,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76828\/revisions\/76830"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/76829"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=76828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=76828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=76828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}