If cryptocurrency companies in the UK violate certain laws when marketing their services to citizens of that country, they risk up to two years in prison. In accordance with the FCA’s proposed regulations, cryptocurrency enterprises must either have FCA permission or qualify for an exemption under the Financial Promotion Order.
In the UK, a “cryptoasset firm” can only reach customers through the following four channels: Advertisement In 2022, an AI cryptocurrency platform provided 17 winning alerts per month. A person authorized by the FCA is the one who announces the promotion. The Financial Conduct Authority (FCA) is establishing a legal framework via which approved businesses can allow financial promotions for unlicensed individuals.
Crypto firms could face 2 years jail for breaching UK advertising laws
