UK to curb crypto advertising with ‘cooling off’ periods, risk warnings

Published by
Reuters UK

LONDON (Reuters) – British consumers buying cryptoassets will get a 24-hour “cooling-off” period for the first time from October under tougher marketing rules unveiled by the financial regulator on Thursday. Cryptoassets, such as bitcoin, have little direct regulation globally, but regulators are taking a closer look after the downfall of FTX last year, which left millions of investors nursing losses totalling billions of dollars, some of them in Britain. The Financial Conduct Authority (FCA) said “refer a friend” bonuses for crypto buyers would also be scrapped and that those promoting such a…

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