Half of banned UK crypto adverts remain online as regulator fails to penalise companies

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The story "Half of banned UK crypto adverts remain online as regulator fails to penalise companies" was covered 5 days ago by Financial Times, a news publisher based in United States.

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Financial Times 5d ago

Half of banned UK crypto adverts remain online as regulator fails to penalise companies - Financial Times

Quick Summary:

It brought a criminal case against nine people for promoting an unauthorised scheme linked to high-risk derivatives on Instagram, including TV stars who found fame on reality shows Love Island and The Only Way Is Essex.

The FCA has no powers to require online platforms to remove content that was not approved, and instead relies on good-faith negotiations with tech platforms.

The rules require crypto ads to gain authorisation from the FCA or an FCA-authorised business before being put up online — or face the watchdog’s promise of “robust” action.