UK Mandates Authorization for Crypto Advertisers

LONDON, UK – Great Britain’s financial regulator, the Financial Conduct Authority (FCA) has announced that it will prosecute crypto firms that advertise to British consumers without being approved by new regulations from Parliament. 

According to the announcement, there are four ways a crypto promotion can be approved:

1. Have an FCA-authorized person communicate the promotion.

2. If promoted through an unauthorized person who is approved by an FCA-authorized person.

3. Promoted by a business registered under MLRs (Money Laundering Regulations) with the FCA.

4. The promotion complies with a bespoke exemption granted through the FCA.

Any crypto firm that fails to comply with the regulations risks a “criminal offence [sic] punishable by up to 2 years imprisonment.”