UK regulator issues draft rules to tighten crypto promotions (via Yogita_Khatri5)
The regulator wants consumers to understand what they are investing in.The UK's Financial Conduct Authority is set to strengthen its rules on how high-risk financial products, including crypto, are marketed., proposing restrictions on the marketing of certain crypto assets. The rules essentially bar firms from promoting crypto products to users without assessing their financial knowledge and experience.
"We are therefore proposing to apply the same financial promotion rules to cryptoassets as we are proposing to apply to other high-risk investments," which are categorized as 'Restricted Mass Market Investments,' it added.These conditions include categorizing the recipient of a crypto promotion as either a certified high-net-worth investor, a certified sophisticated investor, a self-certified sophisticated investor, or a certified"restricted" investor.
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