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First-time crypto investors to be offered ‘cooling-off’ period under new rules

June 8, 2023

Via: Sky News

First-time investors in cryptoassets should be offered a 24-hour cooling-off period by those marketing them, according to the City regulator.

A new advertising crackdown being launched by the Financial Conduct Authority (FCA) will mean firms marketing cryptoassets to UK consumers will need to introduce a cooling-off period for first-time investors from 8 October.

The regulator’s policy statement on financial promotion rules for cryptoassets said: “Even when the financial promotions regime comes into force, cryptoassets will remain high risk and largely unregulated.

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