The UK tightens regulation of cryptocurrency trading

September 7, 2023 – at 12:52

Companies in this sector will be prohibited from offering incentives to attract more customers.

the Financial Conduct Authority in the United Kingdom (FCA, in English) announced this Thursday that on October 8 a The new regulation This will lead to a tightening of the conditions for advertising and marketing of related products cryptoassets.

The rules, which will apply “to all companies, regardless of where they are registered in the world”, stipulate that sector advertisements must clearly warn of risks associated with the business. investment And “not to be misleading,” the Financial Conduct Authority (FCA) detailed in a statement.

He also points out that any new investor should wait for a 24 hour period Before running First deal in Digital currencies It forces companies to classify their customers according to different financial criteria.

Bitcoin cryptocurrencies

Cryptocurrencies: How they affect companies in this sector

In a country where about one in ten adults have access to some type of crypto asset, according to British government estimates, Companies in this sector They will also be banned from the show Incentives To attract their customers New investors.

The Financial Conduct Authority stressed that companies will have Transitional period, Until next January, to implement measures that require larger technical changes, although most of them are scheduled to begin implementation next month.

“From October, autographs will be signed cryptoassets It must be announced British consumers Clearly, fairly and honestly. “They should provide risk warnings that people can understand,” said Lucy Castledine, head of consumer investments at the FCA.

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