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

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

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

Q1 may have been “frustrating,” but things are looking brighter for Q2

article-image

Tokens worth 20% of the current supply of the TRUMP memecoin launched by the president are set to be unlocked tomorrow

article-image

A crypto-industry lawsuit is “moot” now that Joint Resolution 25 has been signed into law

article-image

Fed Chair Powell assured markets that the labor market is in “good place,” dependent on price stability

article-image

As uncertainty reigns, the Philly Fed manufacturing index fell to a multi-year low, but layoffs have slowed

article-image

Base launched two tokens as part of its ethos that everything can be tokenized, but the move sent Crypto Twitter reeling