Carly Nuzbach Lowery, former chief legal officer of UK crypto custodian Copper Technologies Ltd., has recently launched a new company that aims to assist crypto firms in navigating the stricter regulations governing the marketing of their services in the UK.
The company, Gateway 21 Ltd., is currently seeking approval from the Financial Conduct Authority (FCA) to arrange investment deals. Once authorized, it will have the authority to approve financial promotions by crypto companies.
The UK’s regime on financial promotions is set to undergo significant changes starting from October 8th. These changes will expand the scope to include cryptoasset service providers, requiring businesses offering digital-asset services in the UK to comply with new regulations.
Lowery, in an interview, emphasized the importance of understanding the evolving regulatory landscape and the need for crypto firms to adapt to the new rules. With Gateway 21 Ltd., she aims to provide the necessary guidance and expertise to help these companies comply with the regulations and navigate the complexities of the UK market.
The stricter regulations on marketing are a response to the rapid growth of the cryptocurrency industry and its potential risks for investors. The FCA aims to protect consumers from misleading or fraudulent advertising by ensuring that crypto companies are transparent and meet the necessary regulatory standards.
By obtaining authorization from the FCA, Gateway 21 Ltd. will act as an intermediary between crypto firms and the regulatory body. It will review the financial promotions of these companies to ensure they meet the requirements set by the FCA, providing an added layer of protection for investors.
The role of Gateway 21 Ltd. is crucial in maintaining the integrity of the crypto industry and building trust with potential investors. Compliance with the new regulations will enable crypto firms to establish themselves as reputable and reliable service providers, attracting more investors in the process.
Lowery’s experience as the former chief legal officer of Copper Technologies Ltd. positions her well to address the legal and regulatory challenges faced by crypto companies. Her expertise in the field, coupled with the necessary regulatory approval, will undoubtedly make Gateway 21 Ltd. a valuable resource for crypto firms in the UK.
As the crypto market continues to evolve and gain mainstream adoption, regulatory compliance will play an increasingly important role. Companies like Gateway 21 Ltd. will be instrumental in helping crypto firms navigate the ever-changing regulatory landscape and build strong foundations for their businesses in the UK.