The UK's financial regulator, the Financial Conduct Authority (FCA), has aggressively promoted its marketing rules for crypto companies since they were published in June. Now he has found a way to bring them to life, in the form of a pixelated cartoon of the Wild West to enlighten investors.
A one-minute animation that mimics the style and sound of a video game. appeared as an MP4 file on the FCA website on December 13. The cartoon is not presented as part of a press release, but appears independently, without title or explanation, in publications. page.
The cartoon explains how to judge whether crypto companies comply with the FCA's marketing rules. Cryptocurrency promotion campaigns cannot propose gifts or referral bonuses and must display a "prominent" warning about the risk of losing money when investing in cryptocurrencies.
Related: UK FCA Crypto Skills Gap Is Leading to Slow Enforcement
While the narrator expresses these rules, the cartoon's protagonist, wearing a cowboy hat, rides through the Wild West landscape on horseback. Crypto appears as a gold coin over a well, falling into the well directly in front of the investor-cowboy. When he hears the narrator warn about companies that don't comply with the FCA's marketing rules, he hangs up a "Wanted" poster with the face of a green snake. The snake also wears a small hat.
The FCA did not immediately respond to Cointelegraph's request for more information.
The FCA has issued numerous warnings and reminders from the new rules were published on June 8. even has extended technical deadlines from October 8 to January 8, 2024.
Despite these measures, several market players, including Marinade Finance, the largest decentralized finance (DeFi) protocol running on the Solana blockchain, have announced his departure of the United Kingdom in response to the rules.
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