ChainCatcher reported that according to CoinDesk, the British crypto lobbying group CryptoUK said that the UK Financial Conduct Authority (FCA) plans to ban cryptocurrency incentives, which may force crypto companies to move out of the country, and called on the FCA to provide clearer guidance on the upcoming cryptocurrency advertising rules to clarify what are "qualified crypto assets" and "financial promotions."
ChainCatcher previously reported that the UK Financial Conduct Authority (FCA)'s new advertising rules propose that from October 8, 2023, companies marketing crypto assets to UK consumers will need to introduce a 24-hour cooling-off period for first-time investors and prohibit marketing including prohibiting "refer a friend" rewards.
