The post The UK’s Warning for Crypto Asset Firms! appeared first on Coinpedia Fintech News

The UK’s Financial Conduct Authority (FCA) has issued a warning to the country’s crypto businesses, stating that the vast majority are ignoring new financial promotion rules set to take effect next month. The FCA said that only 24 out of 150+ firms had replied to its survey related to the new regulations, which will substantially restrict how promotions from unauthorized and unregistered crypto firms can be communicated. The rules will bar non-authorised crypto companies from offering promotions to UK consumers that seek to persuade them to invest in crypto assets, and they could be punished with unlimited fines or imprisonment.