Share this article
UK Government Moving to Restrict Cryptocurrency Promotions
Under the U.K. government's proposals, unauthorized companies would need explicit approval to legally market cryptocurrency products.
By Paddy Baker
Updated Sep 14, 2021, 9:33 a.m. Published Jul 20, 2020, 2:32 p.m.
The U.K. government is looking to increase oversight into cryptocurrency promotions in order to protect investors.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- HM Treasury said Monday it was looking to clamp down on "misleading and inadequate promotions" that endangered retail investors.
- Brought forward by John Glen, the City Minister responsible for the U.K.'s financial services sector, the proposals, published Monday, call for companies to pass through a "regulatory gateway" before being approved to promote cryptocurrency products.
- This follows a 2018 report from the government's "Cryptoassets Taskforce," which said misleading advertisements and promotions for cryptocurrency products was a key investor protection issue.
- Under the proposals, the Financial Conduct Authority (FCA) would become the body responsible for overseeing digital asset promotions.
- Any firm looking to approve the financial promotions from unauthorized firms would first need to have the consent of the FCA.
- In a statement, Glen said existing regulation had failed to keep up with the expanding number of products coming to market.
- He added the proposals would bring crypto product promotions up to the same levels as those for other asset-classes.
- The proposals are currently in the consultation phase, which will continue until Oct. 25.
See also: UK Financial Watchdog Warns Crypto Firms to Register Before End of June
More For You
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.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
