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FCA WARNING for Unregistered Cryptoasset Firms – STOP ON OR BEFORE 8th October.


The Financial Conduct Authority (FCA) has expressed serious concerns regarding the need for more engagement from numerous unregistered overseas cryptoasset firms with UK customers about the impending FinProms regime.

Check out their official letter attached [HERE]

This letter

  • Emphasises that unregistered cryptoasset firms must cease all illegal FinProms to UK consumers once the regime takes effect on October 8TH.
  • It outlines the necessary steps for firms to ensure compliance and highlights potential actions the FCA may take if firms fail to meet these requirements.
  • Addresses its expectations for businesses that support unregistered cryptoasset firms, including social media platforms, app stores, search engines, and payments firms. These businesses are urged to know the risks associated with supporting firms engaged in illegal promotions targeting UK consumers.
  • Reminds businesses to consider their obligations under the Proceeds of Crime Act 2002 (POCA).


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