Regulators Struggle with Banned Crypto Ads in UK
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The UK’s Financial Conduct Authority (FCA) flagged 1,702 illegal crypto ads, apps, and websites between October 2023 and October 2024, but only 54% vanished from the internet. Nearly half of these banned promotions are still live and luring unsuspecting victims. Despite new powers to fine or prosecute rule-breakers, the FCA hasn’t taken action against a single company. The FCA’s focus has turned to social media influencers rather than targeting big crypto firms.
