Britain Targets Misleading Crypto Advertisement Campaigns

While there is a rapid influx of people owning cryptocurrencies, according to Reuters, there are some who do not fully grasp the extent of how digital assets work.

The Chancellor of Britain Rishi Sunak mentioned that "cryptoassets can provide exciting new opportunities", but, also, expressed the importance of transparency in the digital asset industry, stating:

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"...it’s important that consumers are not being sold products with misleading claims."

The British finance ministry, known as the HM Treasury, intends to drop cryptoassets into an already existing financial framework, with regulations being imposed by the Financial Conduct Authority. This will essentially put cryptocurrency ads at the same financial promotion standard as stock and insurance offers.

Likewise, the ministry added that NFTs will not be included in the regulation process, presumably because they’re not classified as currencies, but rather as "collectibles" or even art that people can purchase in a digital form.

These regulatory measures for cryptocurrency advertisements in Britain will roll out "when parliamentary time allows", so the exact time is still unclear.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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