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- The Financial Conduct Authority is warning crypto companies to follow its new guidelines on advertisements.
- Firms could face large penalties, including up to two years of jail time.
- The crackdown follows a slew of high-profile crypto bankruptcies including FTX.
The Financial Conduct Authority said cryptocurrency companies will need to adhere to the UK regulator's forthcoming advertising laws or face the consequences.
Breaches of the new guidelines on financial promotions can lead to prison sentence of up to two years.