UK FCA Proposes Disclaimers on Crypto Memes in Social Media Shake-Up
The UK's financial regulator, the Financial Conduct Authority (FCA), has proposed new guidance that may require crypto firms and influencers to include disclaimers on crypto memes to comply with advertising laws. The FCA has observed that many promotional memes from crypto firms are circulating online without adhering to its promotional rules. The FCA considers crypto a high-risk investment and wants to ensure that promotions include risk warnings and comply with regulations. The FCA has also warned influencers that promoting financial products without proper knowledge could result in legal consequences.
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UK FCA Proposes Disclaimers on Crypto Memes in Social Media Shake-Up
The UK's financial regulator, the Financial Conduct Authority (FCA), has proposed new guidance that may require crypto firms and influencers to include disclaimers on crypto memes to comply with advertising laws. The FCA has observed that many promotional memes from crypto firms are circulating online without adhering to its promotional rules. The FCA considers crypto a high-risk investment and wants to ensure that promotions include risk warnings and comply with regulations. The FCA has also warned influencers that promoting financial products without proper knowledge could result in legal consequences.