The Financial Conduct Authority has issued a letter to Premier League clubs, warning of the significant legal, operational, and reputational risks associated with sponsorship arrangements involving unauthorised cryptocurrency exchanges and trading platforms.

While football clubs themselves are not regulated by the FCA, the regulator’s intervention is the latest indication of a heightened focus on the intersection between football and financial services, particularly where clubs may inadvertently facilitate unlawful activity or expose themselves to criminal liability. As we noted in our previous briefing (available here), the FCA's warning follows closely after it agreed formal cooperation and information sharing arrangements with the Independent Football Regulator.

For details of the FCA's letter and implications for clubs, see our detailed briefing here.