UK FCA releases guidance on cryptocurrency advertising compliance

According to Cointelegraph, the UK Financial Conduct Authority (FCA) has released further guidance on cryptocurrency advertising compliance. Since October 2023, the FCA has been regulating the promotion of cryptocurrency services and continues to assist the industry in complying with these regulations.The FCA has reviewed relevant companies to understand their implementation of cooling-off periods, risk warnings, customer categorization, investment suitability assessments, record keeping, and due diligence for crypto assets. The regulatory body has found some good and bad practices and emphasizes that companies should work directly with the FCA to raise the standards of the entire industry. Two weeks after the new rules came into effect, the FCA found over 200 cases of non-compliance and issued additional rules to promote compliance processes.