Fun

News Feed - 2023-10-11 12:10:00

Turner Wright8 hours agoUK financial watchdog restricts Binance partner from issuing crypto adsThe Financial Conduct Authority’s marketing requirements for crypto firms went into effect on Oct. 8, requiring some to partner with local companies for compliance.1899 Total views24 Total sharesListen to article 0:00NewsJoin us on social networksThe Financial Conduct Authority (FCA) of the United Kingdom has placed restrictions on peer-to-peer lending platform Rebuildingsociety, the firm with which crypto exchange Binance partnered for compliance with the regulator’s marketing regime. 


In an Oct. 10 notice, the FCA said Rebuildingsociety was not authorized to “approve the content of any financial promotion for a Qualifying Cryptoasset for communication by an unauthorised person” and needed to withdraw any existing approvals. The notice suggested that Binance may no longer have a U.K. partner in compliance with the FCA’s marketing requirements, which went into effect on Oct. 8.


The regulator warned Rebuildingsociety to notify any client — presumably including Binance — that it was “not permitted to approve the content of any Financial Promotion for a Qualifying Cryptoasset,” withdraw any ads offering to approve financial promotions and confirm its compliance to the FCA in writing. Binance aimed to use Rebuildingsociety to allow its U.K. users to view the exchange’s products and services through a localized domain, as the exchange is not registered with the FCA.


Related:Binance tight-lipped on projects funded by $1B crypto recovery fund


The FCA’s restrictions came less than seven days after Binance’s announcement of a partnership with Rebuildingsociety, allowing the exchange to market spot trading, nonfungible tokens and other products and services to U.K. users. Under the FCA’s regime, the crypto exchange said it would no longer offer referral bonuses and gift cards.


The marketing regime, which took effect on Oct. 8, was aimed at requiring firms, including crypto companies, to provide “clear, fair and not misleading” ads or risk criminal charges. The FCA added that certain companies could receive approval for a January 2024 deadline amid uncertainty surrounding the rules, but it’s unclear whether Binance planned to pursue this extension. Companies, including OKX and MoonPay, have already announced they plan to comply with the FCA rules.


Magazine:Blockchain detectives: Mt. Gox collapse saw birth of Chainalysis# United Kingdom# Marketing# Binance# RegulationAdd reactionAdd reactionRead moreHow to send and receive payments on the Lightning NetworkExpect new crypto regulations to follow Bitcoin ETFsMeet the guerilla artist who staged a crypto ‘rug pull’ in front of the SEC

News Feed

Vitalik Buterin proposes Ethereum gas model overhaul
Prashant Jha12 hours agoVitalik Buterin proposes Ethereum gas model overhaulEthereum-based transactions currently have two gas fees: one for transaction execution and another for storing data.3185 Total views5 Total shar
Mastercard Adds Crypto Consulting Service in Latest Effort to Boost Cryptocurrency Adoption
Mastercard Adds Crypto Consulting Service in Latest Effort to Boost Cryptocurrency Adoption Payments giant Mastercard is expanding its payments-focused consulting service to includ
Nearly every token Binance listed in 2024 is now bleeding red — Coin98
Alex O’Donnell3 hours agoNearly every token Binance listed in 2024 is now bleeding red — Coin98Part of the problem is the airdrop model for token distributions, which has grown in popularity in recent years.535 Total
Brazilian Securities Watchdog Demands Changes in Cryptocurrency Bill
Brazilian Securities Watchdog Demands Changes in Cryptocurrency Bill The new directive of the Brazilian securities watchdog, the CVM, is now demanding specific changes to the crypt
Retail crypto market growth in Canada driven by market factors, regulation
Derek Andersen2 hours agoRetail crypto market growth in Canada driven by market factors, regulationCrypto platform WonderFi has swallowed up several of its competitors in Canada and expects to reap the benefits.435 Total
Tech Giant Globant Believes the Metaverse Will Have Its Make or Break Moment in 2023
Tech Giant Globant Believes the Metaverse Will Have Its Make or Break Moment in 2023 Globant, a Luxembourg-based tech giant with Argentine origins, has referred to the short-term f
Leader of Nigerian Crypto Stakeholders’ Body Welcomes the E-Naira — Says It ‘Comes With No Magic Wand’
Leader of Nigerian Crypto Stakeholders" Body Welcomes the E-Naira — Says It "Comes With No Magic Wand" Nigeria’s proposed digital currency, the e-naira,
California AI bill aimed at preventing disasters draws ire from Silicon Valley
Martin Young2 hours agoCalifornia AI bill aimed at preventing disasters draws ire from Silicon ValleyCrypto VC giant a16z claims the AI legislation will “burden startups because of its arbitrary and shifting thresholds
Terra’s Founder Do Kwon ‘Looks Forward to Building With Bitcoin’ — Project Reportedly Acquires $125M in BTC
Terra’s Founder Do Kwon "Looks Forward to Building With Bitcoin" — Project Reportedly Acquires $125M in BTC Just recently, Terra founder Do Kwon hinted at purchasing $3 billion
Crypto Firms Flee Ukraine—Weld Money Becomes Latest To Exit
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Fed Chair Powell Says ‘Very Premature’ to Pause Interest Rate Hikes — Economist Warns It Will Crash Economy
Fed Chair Powell Says "Very Premature" to Pause Interest Rate Hikes — Economist Warns It Will Crash Economy Federal Reserve Chairman Jerome Powell says that it is “very pre
Meta launches ‘most capable openly available LLM to date,’ rivaling GPT and Claude
Tristan Greene4 hours agoMeta launches ‘most capable openly available LLM to date,’ rivaling GPT and ClaudeLlama-3 may be the company’s most ambitious artificial intelligence project yet.660 Total views3 Total shar