FCA cracks down on the ads of high-risk assets, but not crypto
British financial watchdog will tighten the guidelines for promoting high-risk products to individual investors. British Financial Conduct Authority (FCA) demands clearer and more prominent risk warnings from the companies marketing high-risk investments. Certain investment incentives, such as refer a friend bonus, will be banned altogether. In a note published on Aug. 1, the FCA has finalized stronger rules to “help tackle misleading adverts that encourage investing in high-risk products.” The regulator’s attempt to reduce the number of people investing in high-risk products follows a....
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The South Korean regulator noted that popular stablecoins used by the public might become a primary tool for laundering using digital assets. South Korea’s financial watchdog, The Financial Service Commission (FSC), would monitor crypto whales with assets of over 100 million won ($70,000) to prevent money laundering efforts using digital assets.The FSC noted that the greater the proportion of virtual assets and stablecoins, the higher the money laundering risk. Thus, special focus should be placed on monitoring crypto whales with significant digital asset and stablecoin holdings under the....
A strong buying sentiment persisted across the cryptocurrency market as Bitcoin reached another year-to-date high on Monday.