Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (2,007)
  • Analysis (2,174)
  • Bitcoin (2,773)
  • Blockchain (1,684)
  • DeFi (1,990)
  • Ethereum (2,000)
  • Event (66)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (2,036)
  • Press Releases (10)
  • Reddit (1,423)
  • Regulation (1,903)
  • Security (2,647)
  • Thought Leadership (3)
  • Uncategorized (1)
  • Videos (43)
Hand picked
  • Bitcoin Climbs as Economy Cracks — Is it Bullish or Bearish?
  • Can the Aptos Blockchain attract developers far from Ethereum?
  • Cloudflare presents Net Dollar, a stablecoin to support a dollar
  • How to use Google Gemini to analyze cryptography parts before investing
  • XRP fell 2.3% while Ripple CTO David Schwartz comes out
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»Bitcoin»Is the UK crypto ad ban a failure? 50% still active despite restrictions
Bitcoin

Is the UK crypto ad ban a failure? 50% still active despite restrictions

January 2, 2025No Comments
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
A F1c239.jpg
Share
Facebook Twitter LinkedIn Pinterest Email


The Financial Conduct Authority, the UK’s financial watchdog, is facing challenges enforcing its rules on illegal crypto advertisements. Despite reporting 1,702 illegal cryptocurrency ads, websites and apps between October 2023 and October 2024, only 54% have been removed online, with almost half of them still active and attracting potential investors or victims without distrust, revealed the Financial Times.

The FCA has the power to regulate these advertisements and take criminal action against individuals or groups who violate a new law aimed at remedying the disorder in the country’s crypto markets.

Current rules allow the FCA to review and approve such crypto-related advertisements or activities before publishing or distributing them online. Despite this new rule and regulatory powers, the FCA has failed to fully implement them, raising serious concerns about the capabilities of its supervisory body.

FCA focuses on “influencers”, rather than big crypto companies

Although the UK crypto market has seen questionable advertising and marketing recently, the FCA has failed to fully implement the law. According to some observers, the government watchdog has instead focused its resources on regulating “finfluencers” or individual financial influencers who promote crypto projects and businesses. Many of these influencers are active on social media, particularly Twitter/X, and often post tweets and marketing messages aimed at convincing their followers to invest.

Most recently, the FCA filed complaints against nine individuals who marketed an unauthorized business involving high-risk derivatives on Instagram. The watchdog has also made complaints against TV stars who became popular on reality shows like The Only Way is Essex and Love Island.

In October 2024, the FCA announced it was investigating a further 20 influencers who were illegally marketing financial products.

The total crypto market cap currently stands at $3.3 trillion. Chart: TradingView

Some platforms get away with unauthorized crypto ads

As social media influencers are targeted, many crypto companies are skirting the laws. And according to commentators, the FCA is finding it difficult to pursue and file complaints against them.

The reason for the inaction or lack of initiative of the monitoring body can be attributed to the existing laws. Under current rules, the FCA cannot legally force these tech companies to instantly remove these unapproved cryptocurrency ads.

The decision to remove these advertisements must be voluntary. The good news is that some tech companies like Meta, Google, and Bing have agreed to remove these ads. And some crypto companies and operators know that the watchdog’s hands are tied and there is little they can do about the situation.

UK sees growing crypto niche

The UK cryptocurrency niche got off to a slow start in 2013. Initially, there were a few tech and crypto startups, and only a few saw the potential of the technology. After a year, the UK Treasury began to note the rapid growth of the sector by publishing research on digital currencies and the need for oversight and regulation.

And in 2017, the issue of crypto regulation began to gain mainstream attention. Meanwhile, the FCA came on the scene and warned the UK investing public of the dangers of crypto investing.

Then, the following year, the British government launched consultations to obtain information on how to regulate an industry while promoting innovation. And by 2021, the UK required cryptocurrency companies to register first before they can operate legally.

Featured image from Pexels, chart from TradingView



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleAnalyst Says One Crypto Sector Poised to Outperform in Coming Days – Here’s His Top Pick
Next Article Crypto ETFs dominate major fund launches in 2024, led by record Bitcoin inflows

Related Posts

Bitcoin

Can the Aptos Blockchain attract developers far from Ethereum?

October 2, 2025
Bitcoin

Mira is available for trading!

October 1, 2025
Bitcoin

The actions of Tron Inc. drop by 85% in the middle of the wider cash flow company

October 1, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Event

Verifying Intelligence: Shaping the Future of Verifiable AI at TOKEN2049 Singapore

September 24, 2025

Singapore, September 24, 2025 — House of ZK and Boundless, in partnership with Google Cloud,…

Event

Cyprus to Host Europe’s Premier Fintech and Crypto Gathering – Wiki Finance EXPO 2025

September 19, 2025

Limassol, Cyprus – September 24, 2025 – The financial world’s spotlight turns to Limassol as…

1 2 3 … 55 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

Cloudflare presents Net Dollar, a stablecoin to support a dollar

October 2, 2025

Aster holds $ 1.45 – $ 1 $ 1.53 million recovery from MRBEAST $ 2?

October 1, 2025

ZCASH + 35%, Grassouiers penguins climb, sound gains – the Altcoin season targets catalysts

October 1, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 118,573.77
ethereum
Ethereum (ETH) $ 4,353.87
xrp
XRP (XRP) $ 2.96
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 1,028.14
solana
Solana (SOL) $ 221.26
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.248489
staked-ether
Lido Staked Ether (STETH) $ 4,353.83
tron
TRON (TRX) $ 0.341435