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<p>The Government takes the issue of fraud very seriously, and published a comprehensive
Fraud Strategy in May last year. Through this the Government will work: with industry
to remove the vulnerabilities that fraudsters exploit; with intelligence agencies
to shut down fraudulent infrastructure; with law enforcement to identify and bring
the most harmful offenders to justice; and with all partners to ensure that the public
have the advice and support they need</p><p><br>Further, the Financial Conduct Authority
(FCA) commenced enforcement of the cryptoassets financial promotion regime in October
last year, requiring such promotions to be fair, clear and not misleading. This is
aimed at improving consumers’ understanding of the risks and benefits associated with
cryptoasset purchases and ensuring that cryptoasset promotions are held to the same
standards as similar risk financial services products. In the next phase of its work,
the Government is creating a comprehensive financial services regulatory regime for
cryptoassets in the UK.</p>
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