Over the last week, regulators in three major jurisdictions across two continents introduced new rules governing cryptocurrency-related promotions and advertisements. Authorities in China have issued new rules regarding cryptocurrency-related advertisements and promotions, citing the risks to consumers associated with investments in digital assets. United Kingdom, Singapore Spain tightened the requirements around crypto firms’ marketing messaging and customer recruitment practices. Although experts see this as an indication of a new phase in cryptocurrency regulation, there are still questions over its efficiency and universality.

New Measures

In the United Kingdom, Her Majesty’s Treasury issued a report summarizing the results of a public consultation on crypto-asset promotions, published in July 2020, as well as the government’s further steps in bringing such promotions within the regulatory perimeter. It is important to note that marketing messages related to crypto will be part of the Financial Promotion Order. This means that they will have the same rules as promotions of traditional financial products.

New approach drivers

Is this a global trend?