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The head of the U.K.’s FCA, in a speech, said that crypto promotions require more oversight and that the agency needs more power to ensure investor protection.

The United Kingdom’s Financial Conduct Authority head has issued a statement, calling for stricter regulations on platforms that promote crypto. The FCA’s head, Charles Randell, spoke at the Cambridge International Symposium on Economic Crime and said that regulators have to be given more power to ensure investor protection. This is in line with what U.S. SEC Chairman Gary Gensler has said.

The warning is primarily targeted at potential scams and pump and dump schemes, which still plague the market. He also said that more rules are necessary for digital ads and influencers, who do indeed have some hold on the market.

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