Despite initiating stricter rules, the FCA saw only 54% of 1,702 requests for the removal of illegal crypto ads being acted upon between October 2023 and October 2024. The lack of legal penalties against non-compliant firms further complicates enforcement efforts.
With new regulations poised for finalization by Q1 2026, the FCA plans to focus on trading platforms, stablecoins, and market abuses. Past FCA chair, Charles Randell, emphasized the critical need for imposing penalties to curb non-compliance in the industry.