News Explorer — UK Crypto Firms Offered 3-Month Grace Period to Comply With New FCA Advertising Rules

Generated by AI, curated by humans

Sep 7, 3:18 pm

Coindesk

UK Crypto Firms Offered 3-Month Grace Period to Comply With New FCA Advertising Rules

The UK's Financial Conduct Authority (FCA) has announced that crypto firms may be given an additional three months to implement regulations aimed at curbing aggressive marketing. The new rules, which were originally set to take effect on October 8th, include bans on inappropriate incentives. However, compliant firms can now delay implementation until January 2024 to ensure they have the necessary technical setup. The FCA still plans to take enforcement action against overseas or unregulated firms that unlawfully market to UK consumers.

The UK's Financial Conduct Authority (FCA) has announced that crypto firms may be given an additional three months to implement regulations aimed at curbing aggressive marketing. The new rules, which were originally set to take effect on October 8th, include bans on inappropriate incentives. However, compliant firms can now delay implementation until January 2024 to ensure they have the necessary technical setup. The FCA still plans to take enforcement action against overseas or unregulated firms that unlawfully market to UK consumers.

Latest

Jul 29, 12:10 pm

Decrypt

CFA Report Pegs US Crypto Fraud Losses at $80.7B

The Consumer Federation of America reported that cryptocurrency scams and cybercrimes resulted in estimated losses of $8... Read Summary

Jul 22, 12:44 pm

Decrypt

UK-Sanctioned HTX 'Rotating' Wallets, Says TRM Labs

TRM Labs reported that HTX has revamped its wallet infrastructure post-UK sanctions, rapidly rotating deposit and hot wa... Read Summary

Jul 22, 11:10 am

Coindesk

Cardano Wallet SecondFi to Shut Down After $2.4M Exploit

SecondFi, a Cardano wallet, was exploited by attackers who stole 16.1 million ADA from 374 wallets, prompting the servic... Read Summary

Jul 21, 9:14 pm

Coindesk

Senate Dems Unhappy With Trump Ethics Deal in Clarity Act: Report

The U.S. Senate Democrats and the White House are at odds over who will enforce the ban on government officials' signifi... Read Summary

Jul 21, 9:11 pm

bitcoinmagazine.com

Bitcoin Booster Jack Dorsey Debuts Buzz: A Decentralized Alternative to Slack

Jack Dorsey has introduced Buzz, a decentralized group chat platform for teams, aiming to reduce reliance on platforms l... Read Summary

Jul 21, 8:20 pm

Decrypt

Telegram CEO Pavel Durov Promises 'Largest Rollout of a Non-Custodial Crypto Wallet in Human History'

Pavel Durov announced the upcoming rollout of a native non-custodial cryptocurrency wallet for Telegram, offering instan... Read Summary

Jul 21, 6:14 pm

Coindesk

White House Wants Dems to Accept 'Historic' Deal on Clarity Act Ethics Provision

The final draft of the Clarity Act has been delayed as negotiators work on restricting senior government officials' ties... Read Summary

Jul 20, 10:34 pm

x.com

White House Agrees Clarity Act Ethics Package: Report

The White House has finalized an ethics package for the Clarity Act and shared it with specific Senate Republicans, acco... Read Summary

Jul 21, 9:34 am

Unchained Crypto

Former NY Governor Andrew Cuomo Joins OKX Board

Former New York governor Andrew Cuomo has joined OKX's board of directors, promoting 24/7 tokenized stock trading on Fox... Read Summary

Jul 21, 9:05 am

Decrypt

UK Lawmakers Launch Parliamentary Inquiry Into Crypto Banking Challenges

A parliamentary inquiry has been launched by UK lawmakers to investigate banking challenges faced by the country's crypt... Read Summary

Jul 20, 2:08 pm

Coindesk

Exodus to Slash Workforce By 25% in Stablecoin Payments Push

Exodus plans to reduce its global workforce by 25% to focus on stablecoin payments and card infrastructure, aiming to lo... Read Summary

Jul 20, 1:47 pm

Decrypt

Allbridge Pauses Protocol After $1.65M Flash Loan Attack

Allbridge has halted its protocol after an attacker siphoned $1.65 million from its Solana liquidity pools in a flash lo... Read Summary

Jul 20, 1:01 pm

Coindesk

Bitmine Scales Back ETH Purchases to $14M, Buys Back $86M in Stock

Bitmine, the largest Ethereum treasury firm, purchased 7,430 ETH last week, worth $14 million, as it redirected capital... Read Summary

Jul 20, 12:39 pm

www.strategy.com

Strategy Extends Bitcoin Buying Pause, Boosts Cash Reserve to $3.2B

Bitcoin treasury firm Strategy extended its pause on BTC buys for a further week while increasing its USD reserve by $22... Read Summary

Jul 20, 11:12 am

Decrypt

Strategy Chair Saylor Calls Bitcoin's BIP-110 'Bad Idea' in 110-Point Essay

Strategy chair Michael Saylor has published a 110-point essay opposes the BIP-110 soft fork, arguing it would harm Bitco... Read Summary