The UK introduces a term for illegal advertising about cryptocurrencies

The United Kingdom has tightened rules for cryptocurrency companies related to advertising and promotion of crypto projects.

UK introduces criminal responsibility for non-compliance with the rules of advertising of cryptocurrency projects. It provides for a term of imprisonment of up to 2 years. The new advertising rules were announced on the website of the UK Financial Conduct Authority (FCA).

Already since January 2020 in the UK there is an order in which for the deployment of cryptocurrency activities in the kingdom, companies must register with the FCA and comply with anti-money laundering regulations. Publication from project cryptodefix.com. According to the new rules, advertising will also have to be approved by the FCA.

Companies registered with the FCA and approved can launch advertising campaigns in the Kingdom. Non-compliant advertising campaigns will be considered a breach of the Financial Markets and Services Act of 2000. This is punishable by up to 2 years in prison.