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    Buterin says Terra recovery should target smaller holders

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    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

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    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

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    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

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    NFT Collection Doodles Sees 400% Spike In Volumes On This

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  • Analysis
    Cardano

    Cardano Tests $0.51 Support – Can ADA Reach Safe Zone And Hit $0.67?

    Ethereum

    Ethereum Climbs To $1,900, Why $2K Could Be Next

    TA- Binance Coin Continues To Look Strong Despite Altcoins Shakeout

    TA- Binance Coin Continues To Look Strong Despite Altcoins Shakeout

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    Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance?

    Bitcoin

    Bitcoin Price Takes Hit, Why BTC Remains at Risk of More Losses

    TA- My Neighbor Alice Could Be Set For A Major Bounce

    TA- My Neighbor Alice Could Be Set For A Major Bounce

    TA- STEPN (GMT) Could Be Set For A Major Rally After Bullish Signs

    TA- STEPN (GMT) Could Be Set For A Major Rally After Bullish Signs

    bitcoin price support

    Has Bitcoin Price Found Support At A Decade-Long Trend Line?

    Bitcoin

    Bitcoin Price Holds Support, Why BTC Might Attempt Fresh Increase

  • Learn About Crypto
    How to Find Lost Bitcoins: a Full Guide

    How to Find Lost Bitcoins: a Full Guide

    What Is Cardano (ADA)? 

    What Is Cardano (ADA)? 

    What Is Web 3.0?

    What Is Web 3.0?

    Top 10 Best Ethereum Wallets 2022

    Top 10 Best Ethereum Wallets 2022

    Helium Mining

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    Siacoin Price Prediction 2022 – 2031

    Siacoin Price Prediction 2022 – 2031

    Top Blockchain Events in 2022

    Top Blockchain Events in 2022

    What Is MetaMask and How to Install It

    What Is MetaMask and How to Install It

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  • Regulation
    The Philippines halts virtual asset provider license applications

    The Philippines halts virtual asset provider license applications

    South Korea double downs on crypto regulation, arrests 3 people over illegal trading biz

    South Korea double downs on crypto regulation, arrests 3 people over illegal trading biz

    Mark Cuban faces class action lawsuit for promoting Voyager crypto products

    Mark Cuban faces class action lawsuit for promoting Voyager crypto products

    MakerDAO plans against sanctions from USDC exposure

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    Former BitMEX Executive Faces Up to Five Years in Prison After Pleading Guilty to Violating Bank Secrecy Act

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    Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada

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    SEC orders Bloom Protocol to register BLT token as security or face $31M fine

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    SBI Group reports investee getting CFTC approval for OTC derivatives trading in US

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    Crypto exchange Hotbit says it froze customer funds due to alleged criminal ties of formal employee

    Crypto exchange Hotbit says it froze customer funds due to alleged criminal ties of formal employee

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Home Regulation

UK introduces new rules for promotion of high-risk assets; crypto in the crosshairs

August 2, 2022
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UK introduces new rules for promotion of high-risk assets; crypto in the crosshairs
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The U.K’s Financial Conduct Authority (FCA) has chalked out tougher rules for the marketing of high-risk investment products, but the new rules do not yet apply to cryptocurrency promotions, according to an Aug. 1 press release.

The FCA is waiting for the passing of legislation to see how crypto promotions come under its purview before publishing final rules for the industry, the press release said.

According to the regulator, cryptocurrencies are high-risk assets, and investors should be prepared to lose all money if they invest in them. Therefore, the rules for crypto marketing will follow the same approach as the new rules introduced for other high-risk assets.

Under the new rules, firms need to clearly and prominently state risk warnings while incentives to invest like referral systems are banned.

The rules come as part of the FCA’s consumer investment strategy to reduce the number of people investing in high-risk assets, the regulator said. The FCA’s step follows concerns that a significant number of high-risk asset investors do not properly understand the risks involved and do not think losing money is one of the risks.

The FCA has been undertaking an active role in tackling financial promotions this year. As of July 2022, the FCA intervened in 4,226 advertisements and forced them to be amended or withdrawn.

Sarah Pritchard, FCA Executive Director, Markets said:

‘We want people to be able to invest with confidence, understand the risks involved, and get the investments that are right for them which reflect their appetite for risk.”

According to Pritchard, it is more important than ever that high-risk financial products come with the right risk warnings since the increase in the cost of living could drive people to look for higher returns through high-risk investments.

Posted In: U.K., Regulation

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Tags: AssetscrosshairsCryptohighriskIntroducespromotionrules
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