The FCA flagged 1,702 illegal cryptocurrency ads between October 2023 and 2024 but only managed to remove 54%, indicating a significant enforcement gap.
Despite powering new regulations to review crypto ads, the FCA has reported serious challenges in its implementation, leaving many illegal advertisements active online.
The watchdog has shifted its focus toward regulating 'finfluencers' instead of addressing the major players in the crypto space, potentially neglecting broader market risks.
Investigations into influencers marketing unauthorized financial products highlight ongoing challenges the FCA faces in adequately protecting investors in the volatile crypto landscape.
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