Cryptoasset promotions

In view of the current scrutiny of the Parliament of proposed legislative changes to bring the promotion of certain types of cryptoassets within the scope of the financial promotions regulation (The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529)), the HM Treasury published on March 27, 2023 the so-called Keeling Schedule. The schedule outlines the proposed changes to the Financial Services and Markets Act 2000 which are also necessary to transpose the new promotion rules for cryptoassets. The document does NOT include the modifications to above noted order and is for informational purposes only.
#### As to the background:
In January 2022, the HM Treasury published a final policy statement to require that the promotions of in-scope cryptoassets offered by firms and individuals not themselves registered in UK be approved by authorized person under the Financial Services and Markets Act 2000. The objective of the policy statement was to promote responsible innovation and to enable consumers to make informed decisions by ensuring that cryptoasset promotions are subject to Financial Conduct Authority (FCA) rules in the same way as promotions of other financial services products with similar levels of risk.