UK financial watchdog reminds crypto firms of October deadline for marketing compliance
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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.
In letters dated July 4, the FCA
The FCA first announced the October deadline on June 8, suggesting crypto firms adopt an approach to marketing that allows customers a “cooling-off period” to consider the risks of investing in digital assets. Once firms submit the required information for registration, the FCA said it could take up to three months to consider an application.
In addition to complying with the regulator’s marketing regime, companies must register with the FCA to “carry out crypto asset activities” in the U.K. At the time of publication, the FCA listed 42 registered crypto firms in compliance with its requirements, including Bitstamp, Revolt, MoonPay, and Galaxy Digital UK.
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