The UK Financial Conduct Authority (FCA) published the new rules
applicable to all firms marketing cryptoassets to UK consumers. In
particular, these rules are set to bring cryptoassets into the
financial solicitation/promotion regime as of 8 October 2023.
The Financial Conduct Authority (FCA) reported a growing and
worrying mismatch between consumers' investment decisions and
their level of risk tolerance and therefore decided to categorise
cryptoassets under "Restricted Mass Market Investments",
in order to ensure an adequate level of protection for consumers,
without, however, stifling a market that is still developing.
The new rules are expected to take effect on 8 October 2023 and
will bring cryptoassets within the scope of the financial
solicitation/promotion regime. The definition of financial
promotion needs to be interpreted extensively, as it covers several
different types of communications made by a company, including
those published on websites, apps
