We refer to GC23/2 “Financial promotions on social media . As a matter of policy, Bitcoin Policy UK (BPUK) is broadly supportive of the consultation paper in general, and of the aims and goals set out in it. We highlight in particular the risks that feature in paragraph 2.5 - the cryptocurrency industry is unfortunately rife with unauthorised ‘influencers’ communicating illegal financial promotions (whether knowingly or otherwise, as we further discuss below). As the FCA rightly points out, there may in some cases be direct financial reward for such influencers, or in other cases an indirect financial benefit may accrue to such persons, through their resultant ability to use their followers as ‘exit liquidity’ when disposing of pre-sale tokens which they then dump on the market.