UK: Cryptocurrency Ads At Risk
Bad news for all of our marketer readers who are promoting digital assets in the UK. The country is introducing restrictions that will make it much more difficult to popularize the Blockchain. But you shouldn’t despair. It is still possible to promote digital coins. To find out how – read on. Below we will tell you everything you need to understand to be productive in the current environment. So let’s get started.
What is the reason for the sanctions of UK?
Blockchain is becoming more and more popular, today the corresponding projects are launched in every country. Europe, or rather Great Britain, is no exception. New projects related to digital assets are regularly launched on the territory of this developed state. These are exchanges, coin exchange services and wallets. Each of these firms operates with a lot of money. It is also rapidly promoting its own services. Mainly through advertising. Calls for cooperation are almost everywhere today. In addition to promoting a project in the digital space, references to projects outside the Internet are increasingly common. Banners, conferences and meetings for potential partners – all this needs to be controlled. Otherwise, the development of scams and fictitious companies cannot be avoided. Unscrupulous businesses will start tricking gullible users. Great Britain cannot allow such a development of events. So the concern and the introduction of appropriate measures is fully justified.
What exactly does the UK offer?
It is worth noting that the UK has put forward new measures to control advertising for most digital projects. Not only related to cryptocurrency. At this time, the legitimacy of the advertisements of the respective companies is determined by external specialists. Experts obtain a license from the Ministry of Finance. But, according to the same ministry, they can certify low-quality advertising campaigns. Members of the state structure believe that knowingly dishonest. So, rich enterprises can simply buy licensing. Indeed, such a development of events is possible. That is why, in order to ensure the safety of the funds of its own citizens, the Ministry of Finance takes advertising of money companies under closer control. More precisely, now you will have to go through one additional instance to obtain the corresponding licenses.
The issuance of permits was entrusted to the “Office of Financial Supervision and Regulation“. So, to promote a project related to financial activities in the UK, you will have to contact specialists from this government agency.
Complexities and consequences of sanctions
In the modern world, states are actively adopting bills from neighboring countries. Moreover, if the neighboring country is Great Britain. We are leading to the fact that neighboring states can and most likely be inspired by the example of Britain. And they will also restrict the promotion of digital projects on their territory. At the moment, British specialists are reassuring marketers, as obtaining a license has not become much more difficult. An honest, demanded and progressive project can still successfully receive the appropriate papers. A completely different question is how this initiative will be implemented in other countries. It is incredibly difficult to argue about this. Because each state can interpret British ideas in different ways.
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