The Financial Supervision Authority of the United Kingdom proposes to determine the scope of promotion of cryptocurrency projects. To do this, the regulator intends to classify cryptocurrencies as "limited investments for the mass market."
"Consumers will be able to respond to financial offers of cryptocurrency assets only if they are classified as wealthy or professional investors."
In other words, cryptocurrency companies will not be able to promote their services until they determine whether the consumer belongs to a particular group.
"We want consumers to consciously approach the issue of cryptocurrency investments and only after they have been tested for sufficient knowledge and experience to assess the associated risks. Therefore, we propose to apply the same rules for promoting financial products to cryptocurrencies that are used for other high-risk investments."
On Tuesday, the British Ministry of Finance expressed its intention to tighten the rules for advertising cryptocurrencies so that it is "honest, understandable and not misleading":
"Crypto assets are able to offer outstanding new opportunities, provide people with new ways to make transactions and investments. But it is important that consumers are not sold products using misleading statements."