Britain's financial watchdog said on Wednesday that firms marketing cryptoassets are failing to highlight risks properly to consumers, such as by publishing warnings that are too hard to read. Britain's Financial Conduct Authority had new powers from Oct. 8 to regulate cryptoasset promotions, and said it has found three common issues so far, and will take action if they are not remedied. The FCA said that promotions were making claims about safety, security and ease of using cryptoasset services without highlighting the risks involved. Risk warnings were in small print or hard-to-read colouring, and there was a lack ... (full story)

Since 8 October, we have identified 3 common issues with cryptoasset financial promotions. These include: • promotions making claims about the ‘safety’, ‘security’ or ease of using cryptoasset services without highlighting the risk involved • risk warnings not being visible enough due to small fonts, hard-to-read colouring or non-prominent positioning • firms are failing to provide customers with adequate information on the risks associated to specific products being promoted We expect authorised firms approving the financial promotions of cryptoasset firms to take their regulatory obligations seriously. Where this ... (full story)