FCA: Companies that approve cryptocurrency advertising for other companies must apply for a new license from the FCA

UK regulators require companies to be registered with the country’s cryptocurrency registry before they can approve their own communications, or if this is not possible, have their ads approved by an authorized company. Companies that approve cryptocurrency advertising for other companies must apply for a new license from the FCA. The regulator said that in order to gain approval, companies must demonstrate that they have appropriate expertise to approve promotions by cryptocurrency companies and demonstrate that they have the resources to do so. The FCA said: "If we reject a company's application, or the license granted does not cover approval of certain types of products for which it has applied for a license, the company will need to cease the relevant S21 approval once we have identified their application. activity.” (CoinDesk)