The government also said it would reduce the implementation period for the change to four months from six months after the secondary legislation has been set out by parliament.
The FCA will also be given supervision and enforcement powers over AML-complying cryptoasset businesses promoting cryptoassets, such as forcing a company to take down its website.
"All cryptoasset firms marketing to UK consumers,
including firms based overseas, will soon need to comply with
the new UK financial promotions regime," the FCA said in a
statement on Monday.
"Firms must start preparing now for this regime. We will
take robust action against firms breaching these requirements."
The watchdog said cryptoassets remain high risk, and
reiterated that consumers should be prepared to lose all of
their money if they buy cryptoassets.
"There is unlikely to be any compensation under the
Financial Services Compensation Scheme for consumers who lose
money," it added.
(Reporting by Huw Jones; editing by Louise Heavens and Jason
Neely)
