FCA clamps down on marketing of cryptoassets

24-hour cooling-off period

The Financial Conduct Authority has introduced a stricter set of rules aimed at those marketing cryptoassets, after limiting the marketing of complex investment products to retail investors in recent years.

From 8 October 2023, firms marketing cryptoassets to UK consumers will need to introduce a 24-hour cooling-off period for first time investors. FCA's Pritchard: We need open debate about crypto risks These changes also include making sure investors who buy cryptoassets understand the risks involved, and the banning of ‘refer a friend' bonuses. The FCA explained firms will need to ensure investors have the "appropriate knowledge and experience to invest in crypto"; and those promoting such products must have clear risk warnings in place and make sure adverts are "clear, fair and not...