This consultation proposes amending BCAP Code rule 14.5 to explicitly restrict ads for qualifying cryptoassets, the ads for which were brought under FCA regulation in 2023, to specialised financial channels and programmes. In practice, ads for these products have already been restricted from mainstream broadcast media, as a result of being unregulated by the FCA. Following the FCA’s publication of new rules for the regulation of these ads to account for the potential risks of the products to investors, BCAP proposes introducing a new sub-rule to explicitly name this category of ads as one that should be limited to specialised audiences, as is the case for other types of complex financial products. This would result in greater clarity for advertisers and broadcasters and ensure that ads for high-risk financial investments are not shown to general broadcast audiences. 

This consultation closes on 14 May 2024.

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