UK FCA Publishes Statement On Common Cryptoasset Marketing Issues

On 25 October 2023, the FCA published a statement (Statement) warning about common issues with cryptoasset marketing in the UK.

The FCA has been supervising firms' compliance with its new cryptoasset financial promotions regime since it came into force on 8 October 2023.

In the Statement, the FCA has identified the following common issues with cryptoasset financial promotions:

• promotions making claims about the "safety", "security" or ease of using cryptoasset services without highlighting the risk involved;
• risk warnings not being visible enough due to small fonts, hard-to-read colouring or non-prominent positioning; and
• firms failing to provide customers with adequate information on the risks associated with specific products being promoted.