Signage is seen for the FCA (Financial Conduct Authority), the UK's financial regulatory body, at their head offices in London, Britain March 10, 2022.
REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Oct 25 (Reuters) - 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.
"We expect authorised firms approving the financial promotions of cryptoasset firms to take their regulatory obligations seriously," the FCA said in a statement.
"Where this is not happening, we will take action and have already placed restrictions on an authorised firm to restrict it from approving cryptoasset financial promotions."
The FCA said on Oct. 10 it was stopping peer-to-peer platform rebuildingsociety.com from approving financial promotions for Binance and other cryptoasset firms.
Persons:
Toby Melville, cryptoassets, Huw Jones, David Evans, Jason Neely
Organizations:
FCA, Financial, Authority, REUTERS, Thomson
Locations:
London, Britain