The U.K. Financial Conduct Authority said it may grant certain crypto firms an additional 3 months to be in compliance with its financial promotions regime.
in response to crypto firms “not sufficiently considering how certain rules apply to the specifics of the cryptoasset services they provide” as well as significant changes required to be in compliance. Only firms granted approval will have until Jan. 8 — others face an Oct. 8 deadline.
“We understand the challenges firms have faced in preparing for the financial promotions regime. This will be the first conduct regime for the sector and represents a fundamental change to how cryptoasset activities are regulated in the UK.” In addition to complying with the FCA’s marketing regime, companies must register with the regulator to “carry out crypto asset activities” in the United Kingdom. At the time of publication, the FCA
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