UK Financial Conduct Authority: Crypto memes may violate financial promotion rules

ChainCatcher news, the UK's Financial Conduct Authority (FCA) has released guidelines on financial promotions on social media, which includes a section on non-compliant crypto memes.

The FCA stated, "We have observed that memes and other similar communications are circulating on social media, and users often do not realize that this content is subject to our rules. Memes that are considered to promote crypto assets may need to include disclaimers to comply with advertising regulations. Violating the financial promotion rules for crypto memes could result in unlimited fines and up to two years in prison."