🚨 The UK's Financial Conduct Authority (FCA) is concerned about the low-quality responses from unregulated crypto firms abroad about the upcoming promotion regime for the sector. The FCA welcomed the decisions of companies such as ByBit, Luno and PayPal to stop some services to comply with the new rules. 📢
The introductory rules, which will come into force on October 8, require crypto firms to have appropriate notices on their websites and new investors must wait 24 hours to confirm that they wish to enter into a contract. The FCA also gives firms the option to apply for a three-month extension to comply with the rules.
How do you think these new rules will affect the crypto industry? We are waiting your comments! 💬
The introductory rules, which will come into force on October 8, require crypto firms to have appropriate notices on their websites and new investors must wait 24 hours to confirm that they wish to enter into a contract. The FCA also gives firms the option to apply for a three-month extension to comply with the rules.
How do you think these new rules will affect the crypto industry? We are waiting your comments! 💬