The UK's Financial Conduct Authority (FCA) has approved stricter rules to combat themisleading advertising related to high-risk investment products. This is stated in the press release.
According to the FCA, the final rules for the promotion of digital assets will be approvedAfter the government and parliament confirm that this area is within the competence of the regulator.
"These rules are likely to be in line withthe same vector as that chosen for other high-risk investments. Cryptocurrencies remain high-risk [products], so people should be prepared to lose all their money if they decide to invest,” the statement said.
The FCA stressed that the new requirements are designed tohelp consumers better understand the risks associated with investments. According to the authorities, this will allow citizens to choose financial products that suit their experience.
In January 2022, the regulator published a draftadvertising rules that prohibit marketing campaigns without assessing the financial knowledge and experience of users. Norms were not extended to non-fungible tokens.
Earlier, the UK Advertising Standards Authority began considering the option of adding a disclaimer to cryptocurrency-related advertising.
Recall that in July, the British Parliament introduced a bill on financial services and markets, which included the regulation of digital assets.
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