New Tough Legal Restrictions On Aussie Cryptocurrency Influencers
As more people and businesses shift towards digital assets, the cryptocurrency space is gaining more popularity. The increasing number of new crypto enthusiasts is skyrocketing daily. More people and brands move into the industry with different purposes. While some people stick to daily speculation of the token in their investments, some opt for long-term investment […]
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The Australian securities regulator is taking a stand against financial influencers whom they believe to be bamboozling the general public with misinformation about crypto. New warnings from the Australian Securities and Investments Commission (ASIC) on appropriate conduct for financial influencers could have a dramatic impact on the local crypto industry.ASIC’s recent Information Sheet outlines the traps influencers and the companies that hire them could fall into while wittingly or unwittingly promoting financial products. The penalties for failing to heed ASIC’s warnings could lead to....
After staying quiet for an extensive period, The Dogecoin Foundation - an international nonprofit organization associated with the cryptocurrency Dogecoin - recently opened up with the community about its legal restrictions within the US. The association broadly discussed their inability to launch fundraisers in the wake of recent FinCEN rulings that will literally force them to obtain the status of a "Money Services Business". "In a sense," wrote DF, "this scrutiny which the Dogecoin Foundation and other cryptocurrency organizations are facing is one of the disadvantages of creating a....
The Advertising Standards Council of India (ASCI) has reportedly revealed that more than 400 crypto ads violated its guidelines so far this year. The majority of complaints the ad council received are directed at influencers. “Some influencers talk so confidently about crypto without fully understanding it.”
419 Ads in Violation — Most Complaints Concern Influencers
The Advertising Standards Council of India (ASCI) has reportedly revealed that it received 453 complaints relating to crypto ads between January and May.
The council added that out of....
On The Run (OTR) will work with Crypto.com to implement its Pay Merchant product, with a Sydney payment systems provider rolling out new terminals to allow consumers to pay with crypto. Convenience store and gas station giant On The Run (OTR) will soon accept crypto payments at its 170 outlets across South Australia and Victoria. The move will allow customers to pay for gas, snacks, and even a Subway foot long in over 30 cryptocurrencies.OTR’s parent company the Peregrine Corporation, one of the largest privately-owned companies in South Australia, will also be accepting crypto at its....
Popular crypto influencers in China are facing a harsh reality as Beijing-based social media giant Weibo recently purged 80 of its most prominent crypto influencers. This move comes as China maintains its strict crackdown on cryptocurrency activities within its borders. Weibo’s action reflects the Chinese government’s ongoing stringent stance on digital currencies, raising concerns about […]