According to Odaily, since the implementation of financial promotion rules on October 8 last year, the UK's Financial Conduct Authority (FCA) has issued more than 1,000 warnings to cryptocurrency companies. Under these new regulations, crypto firms must register with the FCA to promote their services to UK customers. Lucy Castledine, the FCA's Director of Consumer Investments, stated in an interview that these actions have led to the removal of 48 applications from local app stores in the UK.