Fintech

FCA clamps down on marketing of crypto, high-risk financial products

During the pandemic, investing in cryptocurrencies skyrocketed — and so did adverts encouraging consumers to buy them
During the pandemic, investing in cryptocurrencies skyrocketed — and so did adverts encouraging consumers to buy them Photo: Omar Marques/Getty Images

The City watchdog is clamping down on the marketing of high-risk financial products, including cryptocurrencies. 

Under its suggestions in a consultation published on 19 January, direct offer financial promotions can only be made to investors categorised as ‘restricted’, ‘high net worth’ or ‘certified sophisticated’.

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