TechFlow news: The UK financial regulator has issued guidelines targeting financial firms and social media influencers promoting investments through memes, aiming to curb fraudulent activities.
The rules require financial social media influencers, or "finfluencers," to obtain approval from an FCA-authorized representative before publishing advertisements or memes related to financial products and services. This move responds to the widespread proliferation of meme coins within online communities.
The regulator reported removing over 10,000 misleading financial service ads last year and warned users to stay vigilant against financial promotions in chat rooms and online forums.
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