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UK FCA Gives Crypto Firms More Time to Implement Some Tough Ads Rules

The United Kingdom Financial Conduct Authority (FCA) said it will extend the deadline for crypto firms to implement the strict marketing rules created to protect consumers. According to an official release, the core rules will still come into effect from October 8, 2023, while measures that require greater technical development, like the 24-hour cooling-off period, can be implemented from January 8, 2024. The FCA has labeled cryptocurrencies as high-risk investments. Crypto companies that fail to implement the rules after the October 8 deadline and continue to promote digital assets to UK users will be punished with an unlimited fine or up to two years imprisonment.

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