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ARTICLE · 13 SEPTEMBER 2023

UK Financial Promotion Rules For Cryptoassets: Longer Implementation Period For Certain Requirements

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On 7 September 2023, the United Kingdom's Financial Conduct Authority ("FCA") set expectations ahead of its new financial promotion rules for cryptoassets...

United KingdomTechnology
John Verwey
John Verwey
Rachel E. Lowe
Rachel E. Lowe
Amar Unadkat
Amar Unadkat
Michael Singh
Michael Singh
Sulaiman Malik
Sulaiman Malik
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On 7 September 2023, the United Kingdom's Financial Conduct Authority ("FCA") set expectations ahead of its new financial promotion rules for cryptoassets (which we wrote about here).

From 8 October 2023, new rules for the marketing of cryptoassets come into force. The new requirements include the need for marketing materials to be "clear, fair and not misleading", labelled with prominent risk warnings, and to not inappropriately incentivise people to invest. These rules apply to firms wherever they are based globally.

The FCA has signalled that, in response to industry readiness, it will consider giving cryptoasset firms until 8 January 2024 to implement the features that require greater technical development, with the core rules still coming into effect from 8 October 2023.

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