According to Foresight News, the UK Financial Conduct Authority (FCA) sent a letter to companies that market crypto assets to UK customers, requiring them to comply with the upcoming financial promotions regime or face criminal charges with a maximum sentence of 2 years in prison, an unlimited fine, or both. The FCA's order takes effect from October 8 and includes overseas companies that sell their products to UK customers.
Firms seeking to register with the Financial Conduct Authority (FCA) must be prepared to undergo a rigorous application process, pay a registration fee and wait up to three months.
