UK regulator warns football clubs about unauthorized crypto-sponsorship transactions

The UK's Financial Conduct Authority (FCA) has sent letters to football clubs, including the Premier League, warning that sponsorship transactions with unauthorized crypto companies and trading platforms may violate Financial Services Laws and pose risks to fans. Fiona Mackinnon-Miller, head of the FCA division, said clubs had increased cooperation with unauthorized companies, and some companies appeared to be operating illegally. Lucy Castledine, director of consumer investment at FCA, pointed out that these companies may be violating British law by providing services without proper licensing. Sports Minister Stephanie Peacock expressed support for the FCA's action. In addition, the FCA said it was coordinating with the government, the Premier League and the new independent football regulator to address the marketing of unauthorized financial services in professional football.