New financial promotion regime for crypto

Draft legislation has been published to extend the UK ‘financial promotion’ regime to a range of cryptoasset activities.  The extended regime will restrict and regulate advertising (and other communications) that include invitations or inducements to engage in a range of currently unregulated cryptoasset activities. It will apply to cryptoasset firms outside of the UK whose financial promotions are capable of having an effect in the UK, as well as to domestic UK cryptoasset firms.