So, The new FCA rules for promoting bitcoin and 'crypto assets', categorizing them as 'restricted mass market investments,' came into effect on October 8, 2023. These regulations include a 24-hour cooling-off period for first-time buyers, client appropriateness testing, and categorization requirements.
0 sats \ 0 replies \ @shado_op 10 Jan
As commented elsewhere on another post, you actually have to take a short question multiple choice test as part of the process!
Clearly designed to stop newcomers from buying crypto/bitcoin on regulated exchanges.
The rules also appear to have extra territorial effect; any exchange that has any dealings with UK customers anywhere could be caught up.
I dont know how this will impact decentralised exchanges, but I dont see how any company behind a decentralised exchange would be able to risk it?...
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