The British Financial Conduct Authority (FCA) wants more warnings for high-risk assets, but crypto is surprisingly exempt.
Nevertheless, as the release qualifies crypto as a high-risk asset as well, the future rules will likely match the ones it has drawn in the announcement. According to the FCA:
“Crypto remains high risk, so people need to be prepared to lose all their money if they choose to invest in crypto assets.” Following the statement, last year, the FCA intervened in significantly more financial promotions to prevent harm than earlier. In the year ending in July 2022, it has amended or withdrawn 4,226 adverts.The FCA is inviting feedback on the new rules to be provided by Oct. 10, 2022, and promises to confirm its final draft early next year.
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