United

With blockchain technology and cryptocurrencies reaching greater popularity worldwide, financial regulatory bodies have been intensively working to regulate the crypto industry. Some regulators, including the SEC, have taken stricter measures in crypto regulations, while others have adopted a more liberal approach.&nbsp; 
In this context, as crypto regulatory work accelerates, there have been many significant developments recently, including the lawsuits the SEC filed against <a href="https://en.coin-turk.com/binanceus-gains-ground-amid-sec-lawsuit-amidst-depleting-liquidity/" data-wpel-link="internal">Binance</a> and Coinbase. Meanwhile, the countdown has begun for new crypto regulations to come into effect in the United Kingdom.&nbsp; 
<h2 style="text-align: justify" id="span-data-contrast-auto-countdown-begins-for-new-crypto-regulations-span-span-data-ccp-props-201341983-0-335551550-0-335551620-0-335559739-160-335559740-259-span">Countdown Begins for New Crypto Regulations&nbsp;</h2> 
The UK’s Financial Conduct Authority (FCA) announced that new crypto regulations, especially introducing new standards for the advertising and marketing activities of crypto companies, will come into effect from October 8. Following the announcement, the FCA issued a letter to domestic and foreign firms marketing crypto assets to UK customers, emphasizing the need to comply with the incoming crypto ad compliance directives.&nbsp; 
<img decoding="async" class="aligncenter wp-image-88160 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/07/fca.png" alt="" width="1334" height="730" srcset="https://en.coin-turk.com/wp-content/uploads/2023/07/fca.png 1334w, https://en.coin-turk.com/wp-content/uploads/2023/07/fca-300x164.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/07/fca-768x420.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/07/fca-1200x657.png 1200w" sizes="(max-width: 1334px) 100vw, 1334px"> 
FCA <a href="https://en.coin-turk.com/set-the-alarms-5-critical-developments-today-can-make-you-profit-in-crypto/" data-wpel-link="internal">Crypto</a> Financial Promotions Head Jayson Probin, in a LinkedIn post, underscored the penalties to be imposed if the new regulations are not adhered to, describing the new regulations as a “critical change for the sector”. Moreover, FCA Executive Director Sheldon Mills stated that while it’s up to individuals whether they want to buy crypto, research shows that they make hasty decisions which often prove costly. However, Mills added that the new crypto promotion rules would provide investors with enough time and appropriate information to make calculated decisions.&nbsp; 
A letter signed by Victoria McLoughlin, the Head of Digital Assets Supervision, Policy, and Competition of the Market Interventions Department, and Lucy Castledine, Director of Consumer <a href="https://en.coin-turk.com/what-is-blackrock/" data-wpel-link="internal">Investment</a>s Supervision, Policy, and Competition, stated that crypto firms will need to publish their promotions ‘via an authorized person’.&nbsp; 
The post <a rel="nofollow" href="https://en.coin-turk.com/countdown-begins-for-new-crypto-regulations-in-the-uk/" data-wpel-link="internal">Countdown Begins for New Crypto Regulations in the UK</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Countdown Begins for New Crypto Regulations in the UK

Table of Contents

COINTURK NEWS

Other articles published on Jul 5, 2023

Crypto Vs SEC: Legal Expert Claims SEC May Be Violating the Law in Cryptocurrency Regulation

Stellar XLM Up On The Weekly Chart, Tradecurve Onboards Over 13,500 New Users

MakerDAO's Spark Protocol Going Multi-Chain

Decentralized Hedge Fund VC Spectra (SPCT) Raises $2.4million In Seed Sale Round

Choise.com’s New Partnership With the ELF Stars Vienna Vikings Is a Touchdown for Both Crypto and...

Cobo Argus V2: A Leap Forward in Decentralized Finance

Join our free newsletter for daily crypto updates!