UK regulators warn influencers of risks of promoting NFTs and cryptocurrencies

The Financial Conduct Authority and Advertising Standards Authority have launched a campaign to prevent content creators from marketing investment scams and risky financial products.

It also includes a reminder that the ASA will take action if the rules around promoting cryptocurrencies and non-fungible tokens (NFTs) are broken, and that their followers could lose all their money if they invest in crypto.

Influencers also need to label their posts as adverts if they receive any form of payment from the brand they are working with.