In a worldwide first, Crypto exchanges in the UK will be required to offer each customer a 24-hour “cooling-off period”.
It is speculated that this means customers will only be able to complete their transactions after a day has passed.
Company execs that don’t comply will risk two years’ imprisonment.
It will no longer be legal to “Refer a friend”, and advertising must not be msileading.
The changes, introduced by the Financial Conduct Authority, will become law on 8 October 2023, and will apply to Bitcoin, other digital currencies, and crypto.