UK Financial Conduct Authority: Crypto meme may breach financial promotion rules

The UK’s Financial Conduct Authority (FCA) has published guidelines on financial promotion on social media, including a section on non-compliant crypto memes. “We have observed memes and other similar communications circulating on social media, often without users realizing that the content is subject to our rules,” the FCA said. Memes deemed to promote crypto assets may need to add a disclaimer to comply with the ad Regulations. Violation of crypto meme financial promotion rules could result in unlimited fines and up to two years in prison.”