Crypto and Snake Evil Star in FCA Pixel Animation Pit
The UK's financial regulator, the Financial Conduct Authority (FCA), has aggressively promoted its trading rules for crypto firms since it was published in June. And now he's found a way to bring them to life as a pixelated Wild West cartoon to enlighten investors.
A one-minute animation resembling the style and sound of the video game appeared as an MP4 file on the FCA website on December 13. The cartoon was not presented as part of the press release, but was listed independently – without a description or explanation around it – on the publications page.
Cartoon explains how to determine whether crypto companies are playing by the FCA's trading rules. Under the rules, crypto promo campaigns are not allowed to offer free gifts or referral bonuses and must display a prominent warning about the risk of losing money when investing in crypto.
Related: UK FCA crypto skills gap is causing slow enforcement
As the narrator enunciates the rules, a cartoon character, wearing a cowboy hat, rides a horse through a Wild West landscape. Crypto appears as a golden coin above the pit, directly in front of the investor-cowboy. When the narrator hears companies warning them about not complying with the FCA's marketing rules, she puts up a “wanted” poster with the face of a green snake. And the snake is wearing a little hat.
Speaking to Cointelegraph, an FCA representative explained that the video was part of the InvestSmart campaign for consumers.
The FCA has issued a number of warnings and reminders as the new rules were published on 8 June. In fact, he extended the technical deadlines from October 8 to January 8, 2024.
Despite these measures, several market players, including Marinade Finance – the largest decentralized financial protocol operating on the Solana blockchain – have announced their withdrawal from the UK in response to the laws.
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