Crypto companies have until Oct. 8 to comply with requirements for marketing their products and services to UK users
The United Kingdom’s Financial Conduct Authority, or FCA, has announced that all cryptoasset firms marketing to users in the country must be in compliance with its financial promotions regime by October 2023.starting on Oct. 8, companies operating in the U.K. will have only “four routes to lawfully communicate cryptoasset promotions” in order to be in compliance with the financial watchdog’s regime.
According to the financial watchdog, promotions included “websites, mobile apps, social media posts and online advertising” which were “capable of having an effect in the UK” and not limited to firms based in the country. Jayson Probin, crypto financial promotions lead at the FCA,“We will take robust action against persons illegally promoting to U.K. consumers,” said the FCA notice.
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