Consultation outcome

Cryptoasset promotions

• From: HM Treasury
• Published: 20 July 2020
• Last updated: 27 March 2023 — See all updates

This was published under the 2019 to 2022 Johnson Conservative government

This consultation has concluded

Read the full outcome

Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 Keeling Schedule

PDF, 284 KB, 23 pages

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Cryptoasset promotions: Consultation response

PDF, 305 KB, 31 pages

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Detail of outcome

This Keeling Schedule is being provided to assist the reader in understanding the modifications the Government is proposing to certain provisions of the Financial Services and Markets Act 2000 in respect of registered cryptoasset businesses. It is accurate as at the date on which it is published but will not be subsequently updated. While care has been taken in the preparation of this document, it may not be full and complete in every respect and it is not a formal legal document. As such, no reliance should be placed upon it. A draft of the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023 is available to view at www.legislation.gov.uk

The government has confirmed its intention to legislate to bring certain cryptoassets into the scope of financial promotion regulations. This document summarises feedback to the consultation, and sets out further detail on how the government intends to regulate relevant cryptoasset promotions.

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Original consultation

Summary

Regulating the promotion of certain types of cryptoassets: government consultation on a policy proposal.

This consultation ran from
1pm on 20 July 2020 to 12:15am on 26 October 2020

Consultation description

The government is consulting on a proposal to bring certain cryptoassets into the scope of financial promotions regulations.

Given developments in the cryptoasset sector during 2022, HM Treasury intends to make alterations to its proposal to bring certain qualifying cryptoassets into the scope of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529).

Specifically, it intends to reduce the implementation period from six to four months. It will also introduce a limited, bespoke exemption to the policy to ensure it meets its intended objectives.

Documents

Cryptoasset promotions: consultation

PDF, 246 KB, 27 pages

Consultation responses on Cryptoasset promotions: form

MS Word Document, 148 KB

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Government approach to cryptoasset financial promotions regulation policy statement

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Published 20 July 2020
Last updated 27 March 2023 + show all updates

1. 27 March 2023

   Updated with the Keeling Schedule.

2. 1 February 2023

   Page updated with ‘Government approach to cryptoasset financial promotions regulation policy statement’.

3. 18 January 2022

   Response added

4. 20 July 2020

   First published.