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UK to restrict cryptocurrency ads

By: Maksim Panasovskyi | 21.01.2022, 11:32

Great Britain followed Spain will limit the advertising of cryptocurrencies. The UK authorities have decided to fight against the misleading claims.

The UK Treasury Secretary said the same rules would apply to virtual currency ads as to financial ads. He noted that cryptocurrencies have great potential, but clients should not invest based on misleading claims. In other words, before promoting digital assets, companies will have to obtain appropriate permission from the regulator.

In Spain, a fine of up to €300,000 is provided for violating the new rules. What sanctions will be applied to violating firms in the United Kingdom has not yet been specified.

A source: CNBC

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