The U.K. Financial Conduct Authority crypto promotion rules will be effective by October 8.
Crypto exchange Luno plans to stop U.K. clients from investing in crypto, Nick Taylor, head of public policy at the company, told CoinDesk in a statement.
These changes will come into effect by Oct. 6, two days before the U.K.’s new crypto promotion rules are set to come into force. CoinDesk and Luno are both subsidiaries of Digital Currency Group. “The FCA has implemented new rules for crypto firms. As a result, all compliant crypto firms with U.K. customers are making a number of changes to their platforms in order to comply with the new regulations,” Taylor said. “For Luno, this includes pausing the ability to invest through the platform for some customers for the time being.”
An email shown to CoinDesk from a Luno client said that they would be unable to buy or trade crypto as of Oct. 6.
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