UK guidance for marketers in the cryptoasset space
February 08, 2022
On 18 January 2022, HM Treasury announced that it will be bringing adverts for cryptoassets in line with other types of financial advertising by extending the financial promotion restrictions to encompass them. This will mean that adverts for cryptoassets will need to be either promoted by a firm authorised by the Financial Conduct Authority (FCA) or Prudential Regulatory Authority (PRA), or be approved by an authorised firm. Authorised advertisers are already subject to FCA rules relating to marketing but these changes will give the FCA powers to regulate a wider range of promotions relating to cryptoassets. In addition, the FCA will shortly consult on proposed financial promotions rules that will apply to cryptoassets.