Cryptoasset Financial Promotions & FCA Compliance Check

Why this matters

Since 8 October 2023, promoting “qualifying cryptoassets” to UK consumers has been regulated under the Financial Services and Markets Act 2000 (as amended). A cryptoasset promotion must be made or approved by an FCA-authorised firm, made by a business itself registered with the FCA under the Money Laundering Regulations 2017 for cryptoasset activities, or fall within a narrow exemption. Businesses in scope must include prescribed risk warnings, cannot offer referral bonuses or “refer a friend” incentives, must run appropriateness assessments on new customers, and must apply a 24-hour cooling-off period before a first-time investor can act on a direct offer promotion. This catches more businesses than crypto exchanges alone — retailers accepting crypto with promotional offers, fintech apps adding crypto features, and affiliates or influencers promoting cryptoasset products can all be “communicating” a financial promotion under the rules.

Breaching the regime is not just a regulatory matter — communicating an unauthorised financial promotion is a criminal offence under section 25 of FSMA, carrying up to two years’ imprisonment, alongside FCA enforcement powers to require promotions to be withdrawn. Since the promotions regime took effect, the FCA has published multiple public warnings naming non-compliant firms and taken down thousands of misleading crypto adverts and websites. The wider UK cryptoasset regulatory regime continues to develop through 2026, with FCA rules on trading platforms, custody, staking and stablecoin issuance progressing toward full authorisation requirements — meaning a business compliant with today’s promotion rules should expect further obligations as the broader regime comes into force.

What you'll need

• Whether your business markets, advertises, or promotes cryptoassets to UK consumers in any form (website, app, social media, affiliate content)
• Whether your business is FCA-registered under the Money Laundering Regulations 2017 for cryptoasset activities, or works with an FCA-authorised firm to approve promotions
• Copies of any current cryptoasset marketing materials, including risk warnings used
• Whether you offer referral bonuses, sign-up incentives, or refer-a-friend schemes linked to cryptoasset products

What you'll get

A personalised compliance report covering: a score out of 100, an executive summary, a list of findings ranked by severity, and a prioritised action plan with timeframes.