“This will provide the Financial Conduct Authority with the appropriate powers to regulate the market more effectively.” crypto cryptocurrency bitcoin
The U.K. government has announced plans to impose new rules on cryptocurrency ads to ensure they are fair, clear, and not misleading to consumers. The rules will be enforced by the Financial Conduct Authority .The U.K. government announced Tuesday plans to impose new rules on cryptocurrency advertisements to “protect consumers from misleading claims.” The announcement states:The U.K.
This means the promotion of qualifying crypto assets will be subject to FCA rules in line with the same high standards that other financial promotions such as stocks, shares, and insurance products are held to. Under the U.K. Financial Services and Markets Act 2000, a business cannot promote a financial product unless they are authorized by the FCA or the Prudential Regulation Authority , or the content of the promotion is approved by a firm which is, the government noted, adding:
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