UK politicians say cryptocurrency is ‘not an investment’
The head of the FCA said the agency is expecting new powers for regulating crypto advertisements. Members of Parliament (MPs) in the United Kingdom have called upon the Financial Conduct Authority (FCA) to limit the use of the word “invest” and “investment” by cryptocurrency firms for promotional purposes.According to a Dec. 9 report in The Times, MPs at the treasury select committee told FCA chief Nikhil Rathi that the use of the word “your investment” often portrays that these are on par with an FTSE 100 company or a unit trust, thus giving the wrong impression about the type of....
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South Korean politicians won’t be required to disclose their crypto holdings or crypto-related earnings as no fewer than three cryptocurrency-related bills failed to pass the National Assembly. Proposal Submitted in November 2020 According to the Electronic Times, the bills aimed to require lawmakers and senior public servants to report all their cryptocurrency holdings and their trading profits, which raised controversy amongst the political sphere. The proposal was submitted in November 2020 by Min Hyung-bae, a lawmaker of the ruling Democratic Party of Korea and a parliamentary....
It seems that it’s becoming a trend for politicians to espouse the benefits of bitcoin — and that's not a bad thing!