Firms failing to comply with the Financial Conduct Authority's incoming crypto marketing rules will face steep consequences, including potential jail time.
The rules are set to come into force from 8 October, and will offer a greater degree of protection for consumers by making the marketing of cryptoassets and related products "clearer and more accurate", the FCA said. Breaching the rules will effectively amount to a criminal offence, which will be punishable by an "unlimited fine" and/or up to two years' imprisonment, the FCA said today (7 September). Some of the changes will include the introduction of a 24-hour cooling off period for first time investors, while firms may be given up to 8 January 2024 to implement greater technical de...
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