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ethann5nyne

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Starting on Jan. 15, advertisers offering crypto exchange products and services can only promote their ads if they have an FCA registration. The search engine advertising platform said it would allow ads for hardware wallets storing private keys for crypto, non-fungible tokens (NFTs) or other digital assets if they do not provide buying, selling or trading services.
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In line with the FCA’s rules on crypto advertising, Google Ads updated its guidelines to require FCA approval for projects targeting the UK with crypto promotions.
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The report said that despite the FCA’s ability to fine or bring criminal cases against violators, it has instead focused on financial influencers who promoted their schemes online.
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The FCA has not yet fined companies that failed to remove crypto ads that violate the FCA’s rules. Regulations require digital asset promotions to get approvals from the FCA or an FCA-authorized business before going live.
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According to a Financial Times report, 54% of the 1,702 alerts issued by the UK’s Financial Conduct Authority (FCA) between October 2023 and October 2024 ended in illegal crypto ads being taken down. The report said the rest of the crypto-related promotions are still up.
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Illegal crypto ads continue to appear in the United Kingdom despite its financial regulator asking crypto projects to remove their advertisements targeting the country.
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Only licensed stablecoin issuers will be allowed to offer stablecoins in the Hong Kong market when the law is enacted.
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If the bill is signed into law, stablecoin issuers in Hong Kong will be mandated to obtain a license from Hong Kong’s central bank. Issuers must meet the Hong Kong Monetary Authority’s requirements to obtain the license. Before approving licenses, the regulator would evaluate the stablecoin, its issuer, controllers, reserve assets and mechanisms for stabilizing its value.
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Hong Kong’s much-anticipated bill on stablecoins has moved on to the next stage, with its first reading before the Legislative Council. The bill must go through three readings before finally making it to the chief executive, who can sign it into law.
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The appeal’s denial and the Ministry of Justice’s approval to extradite Kwon to the US should mark the end of the longstanding legal proceedings related to his extradition.
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Today, in crypto, Botswana’s central bank awarded a low-risk factor to crypto investments, considering a small domestic market while pushing for timely regulations. Donald Trump nominated former college football player Bo Hines to head a new crypto council and placed Stephen Miran to lead an economic advisory board.
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Debanking even made the Collins Dictionary shortlist for words of the year in 2023 due to the widespread usage of the world in online circles and digital culture.
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The problem was so widespread that crypto industry executives brought the issue to the attention of former UK prime minister Rishi Sunak. However, crypto firms and projects are still reporting the same issues in 2024.
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Crypto companies also reported being turned away by UK banks in 2023. Common problems included excessive paperwork, account freezes, and application rejections without sufficient reasons.
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The UK government laid out several consumer-protection provisions for banks, including a three-month notice to customers before account closures, an explicit reason for account closure, and a chance to appeal the closure.
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In July 2023, leaked documents revealed United Kingdom politician Nigel Farage was debanked due to his political views. This caused UK politicians to propose stripping banks of their licenses if the banks violated freedom of speech.
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According to the former regional manager of Binance Australia, Ben Rose, the exchange received only 12 hours' notice before being debanked. Rose claimed that the reasons for the abrupt debanking, which occurred in the middle of the night, were unclear.
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Many Operation 2.0 debanking stories came from the United States and US-based entities. However, debanking remains a global problem with implications for business, technological innovation, and freedom of speech.
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