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FCA Introduces new rules for Marketing Crypto Assets

FCA Introduces new rules for Marketing Crypto Assets

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DateJun 21, 2023

Those marketing cryptoassets to UK consumers will need to introduce a cooling-off period for first time investors from October 8, 2023, under new advertising rules announced by the FCA.

As part of a package of measures designed to ensure those who buy crypto understand the risk, ‘refer a friend’ bonuses will also be banned. 

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The new rules mean crypto firms must ensure that people have the appropriate knowledge and experience to invest in crypto. Those promoting crypto must also put in place clear risk warnings and ensure adverts are clear, fair and not misleading.  

The FCA’s rules follow government legislation to bring crypto promotions into the regulator’s remit. 

The FCA is also consulting on additional guidance setting out expectations of firms advertising crypto to UK consumers. Those wishing to have their say will have until 10 August to respond.

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Source- https://www.blockchaintechnology-news.com/2023/06/fca-introduces-new-rules-for-marketing-cryptoassets/

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