Final Reminder: New UK Crypto Marketing Rules Less Than A Month Away

As we have discussed previously (see "First Reminder: Two Months Until New UK Crypto Marketing Rules Take Effect"), starting 8 October 2023, anyone — including a crypto issuer or business based outside the UK — who makes a cryptoasset or service available to an investor or user in the UK will need to consider the UK financial promotion restriction (or "Restriction") and associated rules, any breach of which is a criminal offense.

On 7 September 2023, the UK Financial Conduct Authority (FCA), charged with policing the regime, also set out its expectations for compliance with the new rules and its feedback on good and poor practice.

The following FCA statement is noteworthy: "We are concerned by the failure of many overseas and unregulated crypto firms to engage with us on the new rules. Come 8 October, we will be taking action against firms illegally marketing to UK consumers."