Under the “financial promotion” rules, as an invitation or inducement to engage in financial activity can only be made by a person with FCA authorisation. Advertising FCA regulated cryptoassets is subject to the same requirements. The content of promotions relating to regulated tokens that fall within the financial promotion restriction (whoever they are issued by) must comply with the FCA’s detailed rules in this area. The primary requirement is that all promotions are clear, fair and not misleading, but the rules are wide-ranging and include content requirements (e.g. risk warnings and prominence) and suitability/appropriateness obligations.