Due to regulators' failure to penalize companies, half of banned cryptocurrency ads in the UK remain online

On January 1st, according to the Financial Times, although half of the banned ads remain online after regulators asked to remove illegal cryptocurrency ads, the UK's financial watchdog has yet to penalize any companies that fail to remove illegal cryptocurrency ads. According to data obtained through freedom of information requests, only 54% of the 1,702 alerts issued by the UK's Financial Conduct Authority between October 2023 and October 2024 resulted in illegal cryptocurrency ads, apps or websites being shut down.