FCA Final Guidance on Financial Promotions of Cryptoassets (FG23/3)

Lesson Summary: This lesson provides guidance on the UK Financial Conduct Authority's (FCA) rules for cryptoasset financial promotions. It covers the requirements for financial promotions related to qualifying cryptoassets, emphasising that promotions must be fair, clear, and not misleading. It explains the application of the Consumer Duty for authorised firms and highlights the FCA's objective of reducing consumer harm while supporting economic growth. The lesson also clarifies which entities are subject to these regulations, the definition of qualifying cryptoassets, and potential consequences for non-compliance.

Learning Objectives:

1. Understand the FCA’s requirements for cryptoasset financial promotions.
2. Identify who is subject to the cryptoasset financial promotion rules.
3. Recognise the implications of the Consumer Duty in the context of cryptoasset promotions.
4. Learn the criteria for a promotion to be deemed fair, clear, and not misleading.
5. Understand the potential consequences of non-compliance with these regulations.