TechFlow news: Due to lower compliance levels, the crypto asset promotion rules that took effect in the UK on October 8 have caused some confusion. In response, the Financial Conduct Authority (FCA) has provided additional guidance for cryptocurrency firms to help them comply with the regulations.
On November 2, the FCA released a "final non-handbook guidance" on compliance with rules for crypto firms, offering the regulator’s responses to industry feedback.
Lucy Castledine, FCA Director of Consumer Investments, said in a statement: "While the new rules for firms marketing crypto to UK consumers are aligned with existing rules for other high-risk investments, we have engaged extensively with the industry and designed this guidance specifically to support crypto firms in complying."
