UK Financial Watchdog Tightens Rules for Cryptoasset Marketing
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The UK’s financial regulator tightened rules around marketing of cryptoassets, including banning the so-called “refer a friend” bonuses that are popular in the industry.
The Financial Conduct Authority also introduced a 24-hour “cooling off” period for first-time crypto investors, effective from Oct. 8, it said in a statement on Thursday. The FCA already uses such a mechanism for other investments it considers high-risk.