FCA clamps down on marketing of cryptoassets

From 8 October 2023, those marketing cryptoassets to UK consumers will need to introduce a 24-hour cooling-off period for first-time investors. The changes also include making sure investors who buy cryptoassets understand the risks involved, and the banning of ‘refer a friend' bonuses. The FCA explained firms will need to ensure investors have the "appropriate knowledge and experience to invest in crypto"; and those promoting such products must have clear risk warnings in place and make sure adverts are "clear, fair and not misleading". The regulator's move follows government legi...