Crypto firms serving U.K. customers are getting ready for the country’s tough new rules on advertising, with some announcing they are cutting off local clients from accessing certain services in order to comply.
While the new regime temporarily gives crypto firms the power to authorize their own promotions in the country, only firms that are registered with the Financial Conduct Authority (FCA) as virtual asset service providers get that privilege. The rules also require firms to make significant changes to their online platforms to better warn potential customers of investment risks.
Unregistered firms like Luno and ByBit have said they are halting services to U.K. clients ahead of the Oct. 8 effective date for the rules, while payments giant