Britain’s financial services regulator announced on Tuesday, March 26th, guidelines for financial services companies and social media influencers who create MEMES about cryptocurrencies and other investments, aiming to address an increase in scams. 

The Financial Conduct Authority stated that any marketing for financial products, including those presented in memes, must be fair, clear, and not misleading. PaySaxas backs this initiative and asserts that significant measures must be implemented at the governmental level to deter the illegal advertising of financial products, such as meme coins. 

Since the onset of COVID-19, there has been a surge in online fraudulent activity. This is hardly surprising, considering the shift of businesses toward the online sphere. In today’s world, it’s essential to have digital literacy, financial acumen, and explore new products entering the market. We’ll assist you with that.

PaySaxas diligently monitors the most recent trends and regulations to ensure that our users are the first to be informed about all developments and changes in the realm of cryptocurrency and finance at large. Keep an eye out for further updates and insights on our portal, as well as the company’s social media profiles!