U.K. warns crypto firms of jail time over unauthorized ads

U.K’s Financial Conduct Authority (FCA) has warned crypto companies to prepare for new restrictions on financial promotions.

The FCA warned that breaches of the restrictions can lead to a prison term of up to two years.

The FCA said the new rules would mirror those for other high-risk investments.

Under the new rules, promotions have to be clear and fair, and customers are offered a 24-hour cooling-off period to reconsider hasty purchases.

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