The Financial Conduct Authority (FCA) proposed new guidelines on Monday that contained a section on non-compliant crypto memes considered financial promotions.
“We have seen memes and other similar communications circulated on social media with users often not realizing they are subject to our rules,” the FCA stated. Memes seen as promoting crypto assets may need to add disclaimers in order to comply with advertising regulations.
The FCA warns crypto memes breaking financial promotion rules potentially risk unlimited fines and up to two years imprisonment.
