British lawmakers soften the requirements for advertising cryptocurrency services – Bits Media

Repair, proposed in the bill on financial services and markets, will allow crypto companies, which are already registered in FCA, independently approve your own advertising.

The adoption of the amendment will allow the supervisory authorities of Great Britain, Management in financial supervision (FCA) and participants in the country of the country to resolve the legislative collision.

The current version of the law on financial services and markets contains a requirement, So that all the advertising activity of crypto companies is in a special way approved by a special staff of qualified specialists. At the same time, regulatory authorities cannot formulate the order and personalities of those, who exactly should approve of digital assets advertising. That is, most of the crypto -films were not able to report their advertising campaigns, Unlike firms, providing traditional financial services.

To take advantage of the new amendment to the law, Suppliers of virtual digital assets will be required to apply for registration in the FCA and licensed in accordance with the control regime for money laundering. According to the Treasury of Great Britain, The amendment should enter into force after about four months, giving cryptocurrency companies time for the necessary adaptation.

Earlier, Executive Director of the Great Britain Financial Supervision Department (FCA) Sarah Pritchard (Sarah Pritchard) stated, that cryptocurrencies have turned from "rebellious instruments" into a common class of assets.