Crypto service Nexo is adjusting its offerings for U.K. customers in anticipation of the country's upcoming regulations, a representative informed CoinDesk.

Starting October 8, Nexo will begin discontinuing cashback rewards for transactions via Nexo Exchange and Nexo Card. Additionally, referral and affiliate schemes will also be affected.

This decision by Nexo aligns with the forthcoming rules from the U.K. Financial Conduct Authority (FCA) on crypto promotions. These regulations necessitate firms to have the required registration to sanction their advertising and also make system alterations. For example, potential investors should be granted a minimum of 24 hours to revalidate if they wish to accept investment invitations.

In a statement, a Nexo representative mentioned, "We are devoted to our U.K. clientele, and ensuring regulatory adherence is paramount for us. This mirrors our ambition to foster a strong cryptocurrency environment. Moreover, our refined user interface underscores our commitment to seamless user experience amidst the shifting financial advertisement landscape."

The enforcement of the FCA regulations is scheduled for October 8, though there's an option for companies to request a three-month delay. Preparing for these changes, other companies like PayPal and Bybit announced halting specific crypto services for U.K. users. Similarly, Luno restricted some of its U.K. customers from venturing into cryptocurrency investments.