🚀Attention BTC enthusiasts! The UK Financial Conduct Authority (FCA) is extending the deadline for crypto firms to implement strict marketing rules aimed at protecting consumers. Core rules will still kick in from October 8, 2023, while more technically demanding measures, like the 24-hour cooling-off period, can be implemented from January 8, 2024. 📅

🔒The FCA is labeling cryptocurrencies as high-risk investments and has instructed that crypto marketing materials must be clear and labeled with risk warnings to protect UK investors. Firms that fail to implement the rules by the deadline could face unlimited fines or up to two years imprisonment. 😱

🔧Crypto firms can apply for flexibility to implement more technical measures by January 2024. The FCA will take action against crypto companies illegally marketing to UK users from October 8. 🚨

🌟Steve Rosenblum, CEO of AI crypto risk management platform Libertify, said the UK is undergoing a notable transformation, with the regulatory landscape shifting focus towards safeguarding retail investors' interests. Soon, promoting any digital service or product without ensuring its suitability for customers could become a criminal offense. 🛡️