{"id":56194,"date":"2022-01-19T15:02:04","date_gmt":"2022-01-19T13:02:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56194"},"modified":"2025-09-04T05:11:01","modified_gmt":"2025-09-04T02:11:01","slug":"uk-authorities-tighten-rules-on-cryptocurrency-advertising","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/uk-authorities-tighten-rules-on-cryptocurrency-advertising\/","title":{"rendered":"UK authorities tighten rules on cryptocurrency advertising"},"content":{"rendered":"<p>The UK&#8217;s Financial Conduct Authority (FCA) <a href=\"https:\/\/www.fca.org.uk\/publication\/consultation\/cp22-2.pdf\">has published<\/a> a draft rule on advertising certain cryptoassets. The document envisages banning campaigns that do not assess users&#8217; financial knowledge and experience.<\/p>\n<p>On 18 January, Her Majesty&#8217;s Treasury <a href=\"https:\/\/assets.publishing.service.gov.uk\/government\/uploads\/system\/uploads\/attachment_data\/file\/1047232\/Cryptoasset_Financial_Promotions_Response.pdf\">confirmed<\/a> its intention to extend the remit of the Financial Services and Markets Act to cover regulated cryptoassets.<\/p>\n<p>Under that definition, NFTs are not covered by the proposed rules.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cConsumers should have access to [digital assets] only knowingly and after confirming they have adequate knowledge and experience. [\u2026] We propose applying to them the same advertising rules as for other high-risk investments that are classified as &#8216;restricted investments for the general public&#8217;,\u201d<\/em>\u2014the document states.<\/p>\n<\/blockquote>\n<p>Such products may be marketed only if the client meets one of the following statuses:<\/p>\n<ul class=\"wp-block-list\">\n<li>a high-net-worth certified investor;<\/li>\n<li>a certified sophisticated investor;<\/li>\n<li>a self-certified sophisticated investor;<\/li>\n<li>a certified &#8216;restricted&#8217; investor.<\/li>\n<\/ul>\n<p>In addition, investment firms must assess whether the product matches the consumer&#8217;s knowledge and experience.<\/p>\n<p>The FCA invites public comments on the draft rules until 23 March.<\/p>\n<p>Earlier in 2021, the UK&#8217;s Advertising Standards Authority began considering <a href=\"https:\/\/u1f987.com\/en\/news\/uk-to-tighten-oversight-of-cryptocurrency-advertising\">the inclusion of a disclaimer in cryptocurrency advertising<\/a>.<\/p>\n<p>Earlier, Spain&#8217;s National Securities Market Commission <a href=\"https:\/\/u1f987.com\/en\/news\/spain-tightens-rules-on-cryptocurrency-advertising\">tightened<\/a> its rules on cryptocurrency advertising.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\">YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK Financial Conduct Authority published a draft rule on advertising certain cryptoassets. The document envisages banning campaigns that do not assess users&#8217; financial knowledge and experience.<\/p>\n","protected":false},"author":1,"featured_media":56195,"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-56194","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":"37","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=56194"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56194\/revisions"}],"predecessor-version":[{"id":56196,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56194\/revisions\/56196"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56195"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}