On 3 June 2026, the Financial Conduct Authority published a formal letter to football clubswarning that sponsorship arrangements with unauthorised crypto and trading firms risk breaching two sections of the Financial Services and Markets Act 2000 — both of which carry criminal penalties including up to two years' imprisonment and unlimited fines.
The letter, signed by Fiona Mackinnon-Miller (Head of Scams, Promotions, Engagement & Perimeter at the FCA), was sent to Premier League clubs and accompanied by a public press releasetitled “Football clubs warned about questionable sponsorship deals with unauthorised firms.” The FCA simultaneously confirmed it had engaged directly with the Premier League itself.
What the FCA Is Saying
The regulator's position rests on two existing legal provisions:
- Section 19 FSMA 2000 (the general prohibition): carrying on regulated activities in the UK without authorisation is a criminal offence.
- Section 21 FSMA 2000 (financial promotions restriction): communicating an invitation or inducement to engage in investment activity without approval is a criminal offence.
The FCA's letter explicitly warns that a football club's own promotional content relating to a sponsor's products may itself constitute a financial promotion — meaning the club, not just the sponsor, could be in breach of s21 FSMA.
Additionally, the letter raises the Proceeds of Crime Act 2002: sponsorship funds received from an unauthorised firm's regulated activities “may constitute criminal property,” potentially triggering money-laundering reporting obligations.
The FCA's Six-Point Due Diligence Checklist for Clubs
Verify the firm's FCA authorisation status (or exemption basis)
Assess whether the firm's services constitute regulated activities under UK law
Check the firm's controls to prevent UK consumer access (geoblocking, disclaimers, onboarding)
Consult the FCA Firm Checker and Warning List
Seek independent legal advice where necessary
Monitor the arrangement continuously throughout the sponsorship term
These are described as “appropriate baseline steps” rather than binding rules — but the criminal liability framework behind them makes non-compliance a material legal risk for clubs.
The Scale of Crypto in Football
The warning arrives against a backdrop of deep crypto-industry penetration into football. Major sponsorships include Crypto.com's multi-year deal with the UEFA Champions League and Super Cup (2024–2027), Paris Saint-Germain, and the 2022 FIFA World Cup. These followed a wave of crypto sponsorship that peaked in 2021–2022 before FTX's collapse in November 2022 exposed the counterparty risk inherent in the model.
FTX had naming rights to the Miami Heat arena, sponsored Mercedes-AMG Petronas F1, and plastered logos across Major League Baseball — all partnerships that evaporated overnight when the exchange filed for Chapter 11 bankruptcy and its founder was convicted of fraud.
The FCA's intervention signals that UK regulators now view the post-FTX cleanup as incomplete. Where crypto firms continue to sponsor UK-facing sports properties without proper authorisation, the clubs themselves are now on notice.
What This Means for European Traders
The FCA's letter applies within the UK regulatory perimeter. It has no direct legal effect on EU/EEA-regulated firms or traders. However, the direction of travel is clear: regulators are tightening scrutiny of financial-firm marketing through sports channels, and ESMA's own product intervention measures already restrict how CFD and crypto products can be marketed to retail clients.
The EU's Markets in Crypto-Assets Regulation (MiCA), fully applicable since December 2024, requires crypto-asset service providers to produce marketing materials that are “fair, clear and not misleading” — broadly analogous to FCA standards. While MiCA does not specifically address sports sponsorships, the principle is the same: firms marketing to European consumers must be properly authorised.
For retail traders, the practical takeaway is straightforward: a logo on a football shirt does not mean a firm is regulated. The FCA's Warning List, the ESMA registers, and national regulator databases (CySEC, BaFin, CNMV, CONSOB) remain the authoritative source for verifying a broker's regulatory status. Our EU forex regulation guide explains how to check.
How to Verify Your Broker Is Properly Regulated
EU-regulated forex and CFD brokers operate under ESMA's product intervention framework, which mandates leverage caps (30:1 on major FX pairs), negative balance protection, segregated client funds, and standardised risk warnings. Brokers holding licences from CySEC, BaFin, the FCA, or other EEA national competent authorities are subject to ongoing supervision.
The brokers in our best forex brokers in Europe ranking are independently verified against regulator databases. Each listing includes the broker's licence number, regulator, and compensation scheme coverage. For brokers offering crypto CFDs, we verify MiCA compliance status where applicable — see our MiCA-compliant broker guide.
Timeline: Crypto Sponsorships and Regulatory Response
| Date | Event |
|---|---|
| Jun 2021 | FCA orders Binance Markets Limited to cease UK regulated activities |
| 2021–2022 | Peak crypto-sports sponsorship wave: Crypto.com, FTX, Binance sign major deals |
| Nov 2022 | FTX files Chapter 11; all sports sponsorships terminated overnight |
| Oct 2023 | FCA cryptoasset financial promotions regime takes effect (PS23/6) |
| Dec 2024 | EU MiCA regulation fully applicable for crypto-asset service providers |
| May 2026 | FCA publishes review of financial promotion approvers, finds compliance gaps |
| 3 Jun 2026 | FCA writes to Premier League clubs warning of criminal liability for sponsorships with unauthorised firms |
Bottom Line
The FCA is not creating new rules. It is reminding clubs that existing criminal law already applies to their sponsorship arrangements and that ignorance of a sponsor's regulatory status is not a defence. For traders, the message reinforces what should already be standard practice: verify a broker's regulatory status through official registers, not through a logo on a kit.
The era of crypto firms buying credibility through sports sponsorships without regulatory scrutiny is closing. The FCA has drawn a line; ESMA and national regulators across Europe are likely watching.
Related Reading
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This website is for informational purposes only. The content does not constitute investment advice. Trading leveraged products carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. EU retail leverage limits apply (ESMA): up to 30:1 on major FX pairs, 20:1 on minor FX, 20:1 on major indices, 10:1 on commodities, 5:1 on equities, 2:1 on crypto.