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Cryptoasset Firms Must Comply with UK Financial Promotion Regime

06 February 2023
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Cryptoasset Firms Must Comply with UK Financial Promotion Regime

Cryptoasset firms marketing to UK consumers, including firms based overseas, will soon have to comply with the new UK financial promotions regime. 

Subject to Parliamentary approval, when the regime comes into force, there will be 4 routes to communicate cryptoasset promotions to UK consumers:

  • promotion is communicated by an FCA authorised person,
  • the promotion is made by an unauthorised person but approved by an FCA authorised person,
  • the promotion is communicated by a cryptoasset business registered under the MLRs with the FCA, or
  • the promotion otherwise complies with the conditions of an exemption in the Financial Promotion Order.

Relevant firms should stay up to date with any guidance to ensure they are adequately complying
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