📌 UK regulator’s attempt to ban cryptocurrency advertising fails – more than half remain online: report
– UK regulator’s attempt to ban cryptocurrency advertising fails More than half remain online: report – The Daily Hodl
The Daily Hodl
Former chairman of the regulator Charles Randall told the FT that to stop the very disappointing level of non-compliance the FCA would have to start fining firms that ignore the ban. He said the FCA would have to start fining firms.
Ultimately, unless there is a real and credible threat of legal action against both (technology) platforms and authorized cryptoasset exchanges that place non-compliant ads, it is unlikely we will see any change. …
Randall says part of the difficulty for regulators is that they can’t require technology and social media platforms to ban unauthorized content and instead rely on negotiating goodwill.
Platforms If platforms have sufficient incentive to block such advertising, they will be able to do so; regulators, including the FCA, Ofcom and, where appropriate, prosecutors, may need to ensure that platforms have such incentives.