UK financial watchdog reminds crypto firms of October deadline for marketing compliance By Cointelegraph
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The United Kingdom’s Financial Conduct Authority, or FCA, has announced that all cryptoasset firms marketing to users in the country must be in compliance with its financial promotions regime by October 2023.
In letters dated July 4, the FCA said starting on Oct. 8, companies operating in the U.K. will have only “four routes to lawfully communicate cryptoasset promotions” in order to be in compliance with the financial watchdog’s regime. These legal avenues included having an authorized party approve or communicate a promotion, having a promotion created by a business registered with the FCA, or having a promotion that qualifies as exempt under the U.K.’s Financial Services and Markets Act.
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The United Kingdom’s Financial Conduct Authority, or FCA, has announced that all cryptoasset firms marketing to users in the country must be in compliance with its financial promotions regime by October 2023.
In letters dated July 4, the FCA said starting on Oct. 8, companies operating in the U.K. will have only “four routes to lawfully communicate cryptoasset promotions” in order to be in compliance with the financial watchdog’s regime. These legal avenues included having an authorized party approve or communicate a promotion, having a promotion created by a business registered with the FCA, or having a promotion that qualifies as exempt under the U.K.’s Financial Services and Markets Act.
Continue Reading on Coin Telegraph
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