Syed Rahman outlines new UK legislation targeting the promotion of crypto-related investment opportunities

The proposed UK legislation regarding cryptoasset promotions has been detailed in an article by Syed Rahman.

In his piece, which was published by TL4 Disputes Magazine, Syed explains that the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 has the potential to bring clarity, especially regarding the implications for non-compliance.

Syed explains how the Order is an expansion of the current Section 21 of the Financial Services and Markets Act (FSMA), which deals with financial promotions. He explains the Order’s intended scope and the powers it will confer on the Financial Conduct Authority.

His article outlines the most significant measures in the Order and he argues that it is encouraging to see efforts being made at the legislative level that will have a lasting, positive effect on the crypto sector.

Syed believes it is a change that will protect investors, attract more investment, individuals and institutions into the sector, and may even boost the government’s hopes that the UK will become a global crypto hub.

The full article can be read here.