Crypto firms failing to spell out risks, says UK watchdog

Britain's financial watchdog said on Wednesday that firms marketing cryptoassets are failing to highlight risks properly to consumers, such as by publishing warnings that are too hard to read.

Britain's Financial Conduct Authority had new powers from Oct. 8 to regulate cryptoasset promotions, and said it has found three common issues so far, and will take action if they are not remedied.

"We expect authorised firms approving the financial promotions of cryptoasset firms to take their regulatory obligations seriously," the FCA said in a statement.