Daily Management Review

UK watchdog to introduce new rules for cryptocurrency advertising


Beginning on October 8, the Financial Conduct Authority of the United Kingdom will impose new regulations on cryptocurrency advertising.

According to a statement from the regulator, the UK Financial Conduct Authority (FCA) will begin enforcing new regulations on cryptocurrency advertising on October 8 in response to the cryptocurrency market's explosive growth.

The statement claimed that according to FCA research, the expected number of bitcoin holders more than doubled between 2021 and 2022. As a result, "new rules are being introduced."

The new regulations will go into force on October 8, 2023. All businesses will need to inform investors about the potential hazards of bitcoin ownership and screen potential customers for their expertise and experience in cryptocurrency investing. 

source: bbc.com