Summary
- The UK FCA reported issuing a total of 1,702 warnings regarding illegal crypto ads.
- It was revealed that 54% of the warnings ended with ad removal without penalties.
- Illegal crypto ads are still continuously exposed to UK consumers.
Despite warnings from the UK Financial Conduct Authority (FCA) regarding illegal crypto (cryptocurrency) advertisements, it appears that illegal ads are still rampant.
According to a report by Cointelegraph on the 1st (local time), out of the 1,702 warnings issued by the UK FCA regarding illegal crypto ads since October 2023, 54% of the cases were concluded with the ads being removed without any penalties. Additionally, the FCA has yet to impose fines on companies that posted ads violating regulations.
As the FCA has not taken strict measures, illegal crypto ads continue to be exposed to UK consumers.
YM Lee
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