2023-5-5 12:19 |
The regulator, alongwith the local police raided sites in Exeter, Nottingham and Sheffield, saying that the cash-to-crypto converters are unlawful and a money laundering threat.
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Bans on aggressive marketing were set to take effect in October, but companies can apply to delay some aspects until January.
The FCA has turned down some of the largest crypto firms in the world in the last 18 months, its CEO Nikhil Rathi told lawmakers at a hearing.
The Financial Conduct Authority (FCA) gained oversight of crypto promotions with the approval of the Financial Services and Markets Act in June.
The Financial Conduct Authority wants input from crypto companies on moving forward with regulations.
Ashley Alder said the FCA would help “chart the U.K.’s post-Brexit future as a global financial centre, which continues to support innovation and competition."
The firm said clearing the regulatory hurdle had the potential to drive more institutional investors towards crypto custody solutions.