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UK Financial Regulator Warns Crypto Firms of Jail Time for Unauthorized Ads
The rules aren’t set in stone but will mirror those for other high-risk investments, the Financial Conduct Authority said.
Updated Feb 6, 2023, 3:39 p.m. Published Feb 6, 2023, 10:57 a.m.
U.K. crypto companies were urged on Monday to prepare for new restrictions on financial promotions, with the Financial Conduct Authority warning that breaches can lead to a prison term of up to two years.
While the new crypto regime is not yet finalized, the financial regulator said the rules would mirror those for other high-risk investments, with promotions having to be being clear and fair, and customers offered a 24-hour cooling-off period to reconsider hasty purchases.
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“This regime will apply to all firms marketing crypto assets to U.K. consumers regardless of whether the firm is based overseas or what technology is used to make the promotion,” the FCA said in a statement. “Acting now will help ensure they can continue to legally promote to U.K. consumers.”
New ad rules for the crypto sector were proposed last year. The Treasury said last week that crypto companies registered for money laundering purposes, and not just fully authorized traditional financial firms, will be allowed to approve new campaigns.
Read more: UK Crypto Industry Celebrates Government’s Planned Exemptions for Crypto Ad Approvals
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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