U.K. financial regulator TheFCA has published a consultation document setting out how crypto ads could be approved. camomileshumba reports.
Crypto companies are likely to find it harder and more expensive to get their promotional materials approved in the U.K. if proposals put forward by the country’s financial regulator are accepted., suggests limiting the number of firms able to approve marketing communications. It would withdraw approval authority from companies authorized under the Financial Services and Markets Act 2000 and require an additional level of authorization to allow the FCA to monitor this activity more closely.
“Historically, we have seen too many non-compliant promotions being approved and then communicated by unauthorized firms to retail consumers,” the consultation said. Crypto companies will be hit by any regulatory change resulting from the consultation if the Financial Services and Markets Bill that’s working its way through Parliament becomes law in its current form. Recentwould require crypto businesses’ ads to be approved by an FCA authorized firm, and that could produce a bottleneck.
The number of applications “with sufficient competence and expertise to approve crypto asset financial promotions will be limited at first,” the consultation said. It expects the number to grow over time.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
EU financial regulator to address off-shore crypto companiesThrough MiCA regulation, EU member states can bring down ads and websites of non-EU-authorized entities.
Consulte Mais informação »
Nexo to Depart US After Regulator Discussions Hit 'Dead End'NEW: Crypto lender Nexo said it plans to stop offering services in the U.S. in the coming months, saying ongoing talks with state and federal regulators had hit a 'dead end.' nikhileshde reports
Consulte Mais informação »
Report: Export control agency needs upgradeStronger limits on the export of U.S.-made technology are essential to containing threats from Russia and China, according to a new report shared first with Axios.
Consulte Mais informação »
'How about me': Man comments on 'most wanted' post on Facebook, gets arrestedThe sheriff's office saw his comment, and confirmed he had two outstanding warrants with the message 'we are on the way.'
Consulte Mais informação »
Bill Ackman walks back on comments seemingly defending SBFBillionaire investor Bill Ackman is walking back on comments seemingly defending SBF — says 'nothing could be further from the truth'
Consulte Mais informação »
'How about me': Man comments on 'most wanted' post on Facebook, gets arrestedChristopher Spaulding, a Georgia man, commented on the Rockdale County Sheriff's Office's 'most wanted' post on Facebook and got arrested.
Consulte Mais informação »