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List of Flash News about retail crypto restrictions

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08:57
UK Crypto Access Restricted by FCA Financial Promotions Rules: What Traders Need to Know

According to @wallisi, a newly highlighted crypto offering is not available to UK users, underscoring how the FCA’s Financial Promotions regime is limiting market access and leaving domestic traders at a disadvantage, source: https://twitter.com/wallisi/status/1996866572686877109. Under the FCA’s cryptoasset financial promotion rules effective since 8 October 2023, firms must be FCA‑authorised or use a Section 21 approver, display standardized risk warnings, implement a 24‑hour cooling‑off period for first‑time investors, and conduct appropriateness assessments, which has led many providers to restrict availability to UK consumers, source: https://www.fca.org.uk/cryptoassets/financial-promotions-rules; https://www.fca.org.uk/publications/policy-statements/ps23-6. For active traders, retail access to crypto derivatives and ETNs has been prohibited in the UK since 2021, narrowing the set of tradable products for UK retail participants, source: https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers. Trading takeaway: UK traders should confirm whether platforms are FCA‑authorised or rely on an approved Section 21 approver before onboarding, and anticipate added friction and potentially fewer accessible products versus other jurisdictions due to the UK’s promotion and retail‑derivatives restrictions, source: https://www.fca.org.uk/cryptoassets/financial-promotions-rules; https://www.fca.org.uk/consumers/unauthorised-firms-individuals.

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