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U.K. Regulators Crack Down on Crypto Impulse Buys
linkweb3
2023-06-08
2489
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Summary：The rules—proposed by the Financial Conduct Authority, the U.K.’s main financial regulator—would take effect Oct. 8 and apply to all companies, domestic and international, that sell crypto to U.K. consumers. “The new rules mean crypto firms must ensure that people have the appropriate knowledge and experience to invest in crypto,” the FCA said. About one in 10 U.K. citizens owned crypto assets in 2022, more than double the share from the prior year, according to FCA surveys.
The rules—proposed by the Financial Conduct Authority, the U.K.’s main financial regulator—would take effect Oct. 8 and apply to all companies, domestic and international, that sell crypto to U.K. consumers. “The new rules mean crypto firms must ensure that people have the appropriate knowledge and experience to invest in crypto,” the FCA said. About one in 10 U.K. citizens owned crypto assets in 2022, more than double the share from the prior year, according to FCA surveys.
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