British financial watchdog the FCA has proposed a ban on cryptocurrencies as a marketing tool to fend off inflation, drawing support from members of the U.K. digital assets sector. While some argue that cryptocurrencies with a limited supply like Bitcoin are inflation-proof, this claim can mislead investors due to the lack of data and the volatility of crypto assets. The FCA issued strict rules governing the promotion of cryptocurrency material in the UK, including banning free non-fungible token (NFT) giveaways and airdrops, and accused stablecoin issuers of defrauding consumers using terms such as “anti-inflation.” The new rules will come into effect on October 8.