UK to Tighten Crypto Ad Regulations to Improve Consumer Protection

Posted on by American Coins & Gold

UK to Tighten Crypto Ad Regulations to Improve Consumer Protection
The U.K. government said it plans to strengthen the rules governing crypto ads to bring them in line with other financial assets.The rules will increase consumer protection at the same time as they encourage innovation, the Treasury said in a statement Tuesday.The Treasury published a consultation response, saying that proposed legislation will also provide the UK financial watchdog, the Financial Conduct Authority (FCA), with the power to regulate the crypto market more effectively.The government began consulting on a proposed framework for regulating crypto promotions in 2020. Since then, the Advertising Standards Authority (ASA) has stepped in to ban misleading advertising…