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UK Regulators Release 32-Page Crypto Asset Promotion Handbook

2 mins
Updated by Kyle Baird
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In Brief

  • Financial Conduct Authority issues comprehensive rules for crypto promotion, focusing on fairness and clarity.
  • FCA handbook covers evolving cryptocurrency market, allowing exceptions for authorized persons and circumstances.
  • Crypto firms are reminded to meet legal and regulatory requirements in the absence of UK crypto regulations.
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The United Kingdom (UK) Financial Conduct Authority (FCA) has published a finalized handbook on all the rules crypto firms must follow when promoting cryptocurrency.

“This Guidance is designed to help firms comply with our cryptoasset financialpromotion rules, in particular, the core requirement that promotions are fair, clear and not misleading,” the statement noted.

FCA Recognizes the Rapid Evolution of the Crypto Sector

The FCA’s recently released handbook spans more than 200 pages. It details its purpose, intended audience, and the regulations that crypto firms must adhere to when promoting digital asset services.

However, while the FCA has classified it as a finalized guide, it has acknowledged the dynamic nature of the crypto market. It indicates that the rules may undergo modifications as regulations and market conditions evolve:

“We know the cryptoasset market is evolving rapidly and will keep this Guidance under review as market practice and regulation develops.”

Learn more: Crypto Marketing Truth: Advertising Cannot Buy Results

Crypto firms typically employ conventional advertising methods such as sponsorships at major events, traditional television, print, and radio. However, certain exceptions are recognized by the guidelines that do not require adherence to these traditional approaches.

“The financial promotion restriction does not apply if the promotion is communicated by an authorized person. The content of the promotion is approved by an authorized person.”

Percentage of UK adults owning crypto | Source: FCA
Percentage of UK adults owning crypto. Source: FCA

Crypto Firms: Broader Regulatory Perspective

The document emphasizes that firms should consider promoting their products in compliance with the law and accordance with regulatory requirements.

“Beyond the financial promotion restriction, firms will also need to consider whether any of their activities involving cryptoassets are regulated and whether they have the required authorisation and appropriate permissions to conduct their business in the UK.”

Additionally, it serves as a reminder to crypto firms that the UK government has not yet established regulations for cryptoassets. This means they do not qualify as a “specified investment under the Financial Services and Markets Act 2000.”

Learn more: NFT Marketing: A Guide to Promoting Non-Fungible Tokens

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.