1. **CryptoUK's Concerns:** British cryptocurrency lobbying group CryptoUK is expressing worries that the UK's Financial Conduct Authority (FCA) might inadvertently drive cryptocurrency companies out of the country due to its planned ban on cryptocurrency incentives. The group is urging the FCA to provide clearer guidance on the upcoming cryptocurrency advertising rules.
2. **Regulatory Framework for Advertising:** The FCA had earlier announced a regulatory framework for cryptocurrency advertising and promotions in June. This framework includes a proposed ban on cryptocurrency incentives like free NFTs and airdrops used as investment incentives. The new regulations are scheduled to come into effect on October 8th.
3. **Clarity on Guidelines:** CryptoUK is specifically requesting the FCA to define terms such as 'qualified crypto assets' and 'financial promotions,' seeking clearer guidelines to avoid ambiguity and unintended consequences that might impact the crypto industry's presence in the UK.