Crypto memes could soon be regulated in the UK

The UK regulator is mulling whether to bring crypto memes under updated guidance on financial promotions, including across social media

article-image

Peace-loving/Shutterstock modified by Blockworks

share

Crypto startups, engagement farmers and memecoin fans beware: UK authorities may soon come for crypto memes. 

The Financial Conduct Authority (FCA) wants to modernize its rules around online financial product promotions to better enforce compliance on social media.

Its most recent guidance, published in 2015, doesn’t mention crypto at all. The FCA has now opened a consultation on whether to bring crypto memes under the remit of those official UK rules.

“Firms are reminded that any type of communication is capable of being a financial promotion and subject to S21 [part of the law governing financial promotions],” the agency said.

“We have seen memes and other similar communications circulated on social media with users often not realizing they are subject to our rules.”

This means financial promotion restrictions could extend to memes on platforms like Twitter, Reddit and Telegram. Some projects (memecoins) base almost their entire value proposition on memes, with the FCA saying promotions featuring memes are “particularly prevalent” in crypto.

Example of a promotional crypto meme from FCA

By providing clear guidelines on memes, the FCA aims to prevent misleading or deceptive practices in online promotional activities.

“We want people to stay on the right side of our rules, so we’re updating our guidance to clarify what we expect of firms when marketing financial products online,” said Lucy Castledine, the FCA’s director of consumer investments. 

“And for those touting products illegally, we will be taking action against you.”

The FCA’s posturing comes as part of broader efforts to regulate crypto advertisements targeting UK consumers.

A marketing campaign for memecoin floki inu (FLOKI), which included advertisements across the London Underground, was shut down by UK authorities last year.

Earlier this month, the regulatory authority announced that crypto firms must comply with new advertising rules by Oct. 8, or risk imprisonment or unlimited fines.

Scrutiny of casual communications in financial promotions is happening outside the UK, too. 

In February, a New York federal judge ruled that emojis — rocket ships, money bags and stock charts — in promotions for Dapper Labs’ NFT project NBA Top Shots could be financial advice implying potential returns on investment.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

One small step for man, one giant leap for Bitcoin

article-image

Jay Woods, Chief Global Strategist at Freedom Capital Markets, said it would be “very rare” for an acquisition to happen since the IPO may occur as soon as next week

article-image

Sponsored

Money is one of the most consequential pieces of infrastructure, and M0 believes its architecture should serve builders, not extract from them

article-image

The financial backwaters they laughed at might be the only thing keeping the dollar afloat

article-image

The blockchain’s perpetual futures exchange is highly popular

article-image

The final company of the Magnificent 7 is set to report its Q1 earnings today after the close