CryptoUK calls on the FCA to provide clearer guidance on the upcoming crypto advertising rules

ChainCatcher news, according to CoinDesk, the UK crypto lobbying group CryptoUK stated that the Financial Conduct Authority (FCA) plans to ban cryptocurrency incentives, which could force crypto companies to relocate out of the country. They are calling for the FCA to provide clearer guidance on the upcoming cryptocurrency advertising rules, specifying what constitutes "qualified crypto assets" and "financial promotions."

ChainCatcher previously reported that the FCA's new advertising rules are set to stipulate that, starting from October 8, 2023, companies marketing crypto assets to UK consumers will need to introduce a 24-hour cooling-off period for first-time investors and prohibit marketing that includes "refer-a-friend" rewards.