UK FCA issues guidance on cryptocurrency promotional compliance
PANews, Aug 8 (Reuters) - The UK's Financial Conduct Authority (FCA) has issued more guidance on cryptocurrency promotion compliance, Cointelegraph reported. The FCA has been regulating the promotion of cryptocurrency services since October 2023 and continues to help the industry comply with these regulations.The FCA reviewed relevant firms on their implementation of cooling-off periods, risk warnings, customer categorisation, investment suitability assessments, record-keeping, and crypto-asset due diligence. The regulator identified a number of good and bad practices and emphasised that firms should work directly with the FCA to raise standards across the industry.The FCA identified more than 200 breaches of the new regulations two weeks after they came into force and issued additional rules to facilitate the compliance process.
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