UK Financial Regulator to Limit Crypto Ads to Sophisticated, Wealthy Investors

UK Financial Regulator to Limit Crypto Ads to Sophisticated, Wealthy Investors
The U.K.’s financial services regulator plans to tighten restrictions crypto-asset advertising after the government gives it increased power to regulate the industry and protect investors who may not fully understand the risks they are taking on.The Financial Conduct Authority (FCA) said it plans to classify crypto assets such that consumers would be able to respond to promotions only if they are high net worth or sophisticated investors.It also intends to ban incentives such as refer-a-friend and new-joiner rewards.”Too many people are being led to invest in products they don’t understand and which are too risky for them,” Sarah Pritchard, the…