British watchdog demands more power over crypto promotions

FILE PHOTO: The Chair of the Financial Conduct Authority (FCA) Charles Randell, speaks at a Reuters Newsmaker event, in London, Britain July 11, 2018. REUTERS/Hannah McKay

LONDON (Reuters) - Britain's Financial Conduct Authority (FCA) called on Monday for powers to govern the online promotion of cryptoassets to combat a flood of "problematic content" which it said has no value.

With some cryptoassets using social media influencers and other celebrities to promote so-called tokens, Britain's finance ministry has already consulted on the need to regulate them.