🚀 Breaking Crypto News from the UK 🇬🇧

📢 The FCA (Financial Conduct Authority) has just released new guidance for companies advertising crypto services. The regulation starts in October 2023 and the FCA is helping the industry comply.

🔍 The FCA is checking how companies:

- 24-hour waiting period

- Personal risk warning

- Customer classification

- Investment suitability assessment

- Record keeping and due diligence of crypto assets

👍 Good practice: Clear information about waiting periods for consumers to consider.

👎 Poor practice: Too much focus on whether crypto is a security in some jurisdictions, rather than complying with UK regulations.

📅 The FCA announced in June 2023 that the new regulations will come into effect in October. Some companies have until January 8, 2024 to comply.

📊 In just two weeks, the FCA has found more than 200 violations, including Binance.

💬 What do you think about the new regulations? Comment and share!