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Crypto memes can be considered financial promotions, says UK watchdog

Published 07/17/2023, 10:26 PM
Updated 07/18/2023, 06:00 AM

Crypto firms and influencers may need to start slapping disclaimers on crypto memes to stay compliant with advertising laws in the United Kingdom, according to a new proposed guidance from the country's financial regulator.

On July 17, the Financial Conduct Authority (FCA) released a proposed guidance on social media financial promotions that targets promotional memes and financial influencers — “finfluencers.”

Example of a crypto investing-related meme the FCA considers a financial promotion. Source: FCA

Finfluencers in the crosshairs

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