British regulators warn football clubs over unauthorized crypto sponsorship deals

Odaily Planet Daily News: The UK's Financial Conduct Authority (FCA) has sent letters to football clubs, including those in the Premier League, warning that sponsorship deals with unauthorized crypto firms and trading platforms could breach financial services laws and pose risks to fans. Fiona Mackinnon-Miller, Head of Department at the FCA, stated that partnerships between clubs and unauthorized firms have increased, with some businesses appearing to operate illegally.

Lucy Castledine, Director of Consumer Investments at the FCA, noted that these firms may be violating UK law by offering services without proper authorization. Sports Minister Stephanie Peacock has expressed support for the FCA's actions. Additionally, the FCA stated it is coordinating with the government, the Premier League, and the new independent football regulator to address unauthorized financial services marketing in professional football. (decrypt)