The FCA plans to introduce a 24-hour "cooling-off period" for marketing crypto assets and ban "refer-a-friend" rewards

ChainCatcher news, the new advertising rules from the UK's Financial Conduct Authority (FCA) are set to require that, starting from October 8, 2023, companies marketing crypto assets to UK consumers must introduce a 24-hour cooling-off period for first-time investors and prohibit marketing that includes "refer a friend" rewards.

The FCA stated that the rules follow government legislation, bringing crypto promotions under the regulator's jurisdiction. Companies promoting crypto assets must issue clear risk warnings and ensure that advertisements are clear, fair, and not misleading. (source link)