Finnish regulators tighten the screw on virtual currency marketing
The Finnish Financial Supervisory Authority published stricter rulings regarding crypto marketing. Hot on the heels of the rising cryptocurrency hype, Finnish regulators have dropped a formal notice. On Nov. 24th, the Financial Supervisory Authority (FIN-FSA) stated:“Only registered virtual currency providers can market virtual currencies and related services in Finland. The marketing of virtual currencies in Finnish and in Finland is only allowed for entities registered as virtual currency providers in Finland.”Finland is a highly economically free country, ranking 17th in the Index for....
Related News
Dubai will soon be pursuing a new license program directed towards the crypto space service providers, local regulators by introducing marketing and advertising rules for the industry. Dubai’s virtual asset regulatory authority (VARA), a cryptocurrency regulatory had proposed for new guidelines on marketing, advertising and promotions of cryptocurrencies. VARA has mentioned about all forms of […]
In a marketing effort, 7-Eleven Mexico announces the launch of its own virtual currency dubbed "Big Coins." The company is looking to retain customers and build its online presence by rewarding engaged consumers. Earlier this week, local franchise 7-Eleven Mexico, unveiled its latest marketing initiative "Big Coins," a loyalty program that is taking the form of a "virtual social currency," according to a company's announcement. Customers will be rewarded with the virtual currency "simply by logging into [the company's] social blog," reading, sharing or commenting on 7-Eleven's products....
Bitmex said Wednesday that it is fast-tracking its user verification program in order to comply with regulatory requirements. Users must now be fully verified by Nov. 5, 2020 “to continue trading on the platform,” it said. In a statement, the crypto derivatives exchange stated that “unverified users will not be able to open new positions” after this date. They will also “not be able to withdraw funds from their Bitmex account without completing verification” beginning Dec. 4. The accelerated verification means Bitmex’s mandatory know-your-customer....
The Finnish Pirate Party, also known as Piraattipuolue in Finnish, ran in the Finnish Parliment elections on Sunday, April 19th, 2015. Bitcoin donations to the party have skyrocketed in the last month, exceeding over 10,000 Euros of BTC, more than the 4,000 Euros they received from all donation channels last year. This shows not only that the party is growing significantly, but also that Bitcoin is increasing in popularity within the party. The FPP’s platform focuses on liberty, privacy, transparency of government, and more social freedoms, all of which line up with the principles of....
New York financial regulators are concerned about virtual currency influence in “Wild West”, investigating such virtual currencies as one of the most popular- Bitcoin. Superintendent of the state’s Department of Financial Services, Benjamin Lawsky, stated that they are contemplating new regulations for virtual currencies. Virtual currency is known for being an unregulated currency and Bitcoin was stated to be regulation- free in 2009. Virtual currency is base on mathematical schemes which fights against tampering and maintains its authentication. Just like money, virtual currency can be....