Even Unpaid Social Media Crypto Promotions May Breach UK Ad Rules: Financial Regulator

CoinDesk reported:

If they communicate financial promotions without approval of an authorized person, they are likely to be “communicating an illegal financial promotion,” the FCA said. Influencers who fall within the scope of the FCA rules would need to make sure that their promotions are fair and not misleading. Even memes, often images with superimposed text that are copied and reused across users’ accounts, could count as financial promotions, according to the consultation document.

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