FCA - New UK Regulations Fall On Deaf Ears As 221 Crypto Firms Are Labeled Non-Compliant | Benzinga
Since the U.K. introduced new promotional regulations for crypto assets on Oct. 8, there have already been 221 breaches by various crypto firms.
That's according to the Financial Conduct Authority (FCA). Regulators intended for the new legislation to provide consumers with accurate information and risk warnings.
It now seems to be facing non-compliance from multiple quarters of the industry.
Also Read: Bankman-Fried's Day In Court: A Scandal To Rival History's Most Infamous Financial Meltdowns?
Join the conversation at Benzinga's Future of Digital Assets conference on Nov. 14, where the evolving landscape of crypto regulations is expected to be a major discussion point. Participants and industry experts are keen to assess the implications of these recent breaches and deliberate on the future of crypto promotional norms.
The FCA identified three primary issues:
- Misleading promotions that ...