Cryptoassets Will Soon Be Subject to UK’s ‘Financial Promotions’ Regulations

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On 7 June 2023, the UK Parliament passed the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023, which brings cryptoassets within the scope of rules that regulate the marketing of financial products in the UK. The statutory instrument amends the Financial Services and Markets Act (Financial Promotion) Order 2005 (FPO), extending it to cryptoassets with effect from 8 October 2023. The FPO defines the investments and activities captured by the financial promotions…
By: Skadden, Arps, Slate, Meagher & Flom LLP
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