UK FCA issues final warning to companies promoting crypto assets
The Financial Conduct Authority (FCA) issued a final warning to companies promoting crypto assets to UK consumers. This warning letter detailed the agency’s previous outreach efforts and endeavors to assist crypto firms in complying with the rules. A bolded final warning The UK government has brought forward legislation that would bring certain crypto assets in scope of the financial promotion regime, according to a prior June 8 announcement. Under these rules, all firms marketing crypto assets to UK consumers, which includes overseas firms, must comply with these regulations from Oct. 8 onwards. However, the letter cited that the regulatory body is “concerned by the poor engagement from many unregistered, overseas crypto asset firms who have UK customers on this important change.” According to the FCA, only 24 out of 150 firms responded to a survey issued. You might also like: UK FCA unveils guidelines for crypto operators ahead of ‘Travel Rule’ enf...