The Luno cryptocurrency exchange plans to pause crypto investments for some UK customers ahead of new FCA regulations, CoinDesk reported.
The move comes ahead of the Financial Conduct Authority's new cryptocurrencyLuno Head of Public Policy Nick Taylor said the FCA's impending rules have prompted"all compliant crypto firms with UK customers to make several changes to their platforms."
He added the company would adopt"a phased approach to reintroducing investment opportunities to our customers." Promotional language that could be interpreted as an incentive to invest such as"refer a friend" or"new joiner bonuses" will be banned, the regulator said. Crypto promotions must also put in place clear risk warnings and ensure adverts"are clear, fair and not misleading."
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