The FCA has pushed back the deadline for cryptoasset firms to implement certain rule changes to their crypto marketing processes.
In a new update announced Thursday, the watchdog clarified that the core crypto marketing rules including the ban on incentives like referral bonuses will come into effect from Oct. 8.
The FCA also announced a 24-hour cooling-off period for new customers, which means crypto firms must wait for a day after a new customer makes a purchase before sending them any offers.
Earlier this week, the FCA noted that crypto firms are expected to take all reasonable steps to comply with the Travel Rule.
It’s now clear that the companies will be solely responsible for compliance.
UK’s FCA to Extend Deadline for Crypto Firms to Implement Changes to Marketing Processes Source: Getty Images The UK’s Financial Conduct Authority announces that it will push back the date by a month its new rules on cryptocurrency marketing.