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The legislation also includes a limited time exemption for crypto companies that will allow those that are registered with the FCA the opportunity to approve their own ads as opposed to relying on others to do so. Some companies are authorized companies under FSMA, so can approve their own ads,
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“These are ethical concerns that, as a society, we're really confronted with for the first time,” said trademark and copyright lawyer Jessica Neer McDonald. Original Source
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The office of the NYAG recently filed a lawsuit against crypto exchange KuCoin for “disregarding our laws and putting investors at risk.” New York Attorney General (NYAG) Letitia James has sued KuCoin (KCS) as part of a broader crackdown against digital currencies. On Wednesday, the NYAG’s office filed a lawsuit against
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The French National Assembly has voted in favor of legislating stricter licensing rules for new cryptocurrency firms in order to harmonize local laws with proposed European Union (EU) standards. The vote was passed with 109 votes (60.5%) in favor to 71 (39.5%) against. With the French Senate having already passed
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Newly proposed advertising rules in the United Kingdom could potentially see executives of crypto firms face up to two years of prison for failing to meet certain requirements around promotion, according to the U.K. financial watchdog. In a Feb. 6 statement, the U.K. Financial Conduct Authority (FCA) revealed that if the
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Visco spoke of the importance of regulating crypto, and outlined global, European and Italian initiatives underway during a speech on the global economic situation in Milan. Although the economies of Italy and the euro area are decelerating, because the sector's ties to traditional finance are weak, last year's crypto market
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The United Kingdom is host to at least 168 companies accused of running fraudulent crypto or foreign exchange (forex) scams according to an independent analysis.A Jan. 29 joint investigation by media firms the Bureau of Investigative Journalism and the Observer suggested organized crime groups are using the U.K. as their
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Francois Villeroy de Galhau, the Bank of France’s governor, has urged for more stringent licensing requirements for crypto companies in France, citing the current turmoil in the crypto markets.During a speech in Paris on Jan. 5, the central bank governor said France shouldn’t wait for upcoming EU crypto laws to
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The privacy regulator said Meta should be ordered to pay the fine as its advertising and data handling practices violate the EU privacy laws.The Data Protection Commission (DPC) has slapped Meta Platforms Ireland Limited (NASDAQ: META) with two fines totaling about $414 million for breaching EU privacy laws. The Irish
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Effective regulations are one of the key gateways to cryptocurrency’s mainstream adoption. Due to greater compliance, crypto businesses saw broader acceptance from regulators worldwide. While the crypto ecosystem was awarded countless operational licenses and exposure to new markets, the fall of Terraform Labs, FTX and Celsius, among others, had a
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