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
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Internet Computer climbs back to $3 as short-term momentum improves
ICP pushed above the $3 level on rising activity, holding recent gains as traders reassess near-term direction.
What to know:
- ICP rose about 2.7% to roughly $3.00, reclaiming a closely watched psychological level.
- Trading activity increased during the move higher, accompanying the push through resistance near $2.95–$3.00.
- Price has since stabilized just above $3, keeping attention on whether the level can hold as near-term support.
Top Stories
