A U.K. crypto industry group is worried that a proposed ban on incentives by the Financial Conduct Authority (FCA) could force businesses to leave the country.
The FCA published its draft rules for crypto ads and promotions in June for public feedback.
The rules would prohibit crypto incentives, such as free NFTs and airdrops, that are used to attract investors.The FCA confirmed this to CoinDesk at the time.
The new rules are expected to come into effect on Oct. 8.
CryptoUK, a lobby group, is asking for more clarity on what qualifies as a “crypto asset” and a “financial promotion”.