Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
https://www.gov.uk/government/news/government-to-strengthen-rules-on-misleading-cryptocurrency-adverts
Chancellor of the Exchequer, Rishi Sunak said:
Cryptoassets can provide exciting new opportunities, offering people new ways to transact and invest – but it’s important that consumers are not being sold products with misleading claims.
We are ensuring consumers are protected, while also supporting innovation of the cryptoasset market.
The government is eager to support innovation in cryptoassets and recognises the potential benefits of certain products like stablecoins, such as providing a more efficient means of payment, and in 2018 the government launched the the Cryptoasset Taskforce, which continues to steer the UK’s regulatory response to the cryptoasset market.
However, research undertaken by the FCA highlighted the potential for misleading advertising of crypto products to cause consumer harm.
The Government’s decision to bring these types of advertisements into the scope of regulation will mitigate the risks of consumer harm, ensuring people have the appropriate information to make informed investment decisions.
This will be done via secondary legislation to amend the Financial Promotion Order, which sets out the investments and activities to which the financial promotion regime applies. Under the Financial Services and Markets act 2000, a business cannot promote a financial product unless they are authorised by the FCA or the PRA, or the content of the promotion is approved by a firm which is. Firms that wish to promote such investments and activities must comply with binding rules that financial promotions must be fair, clear, and not misleading.
This will provide the Financial Conduct Authority with the appropriate powers to regulate the market more effectively. The FCA will shortly be consulting on their proposed financial promotions rules that will apply to cryptoassets.
https://twitter.com/coalculus/status/1464100576979873792?s=20
Proof-of-stake (POS) consensus algorithm
https://www.prnewswire.com/in/news-releases/wise-mpay-partners-with-jelurida-to-launch-blockchain-financial-services-platform-in-southeast-asia-839193403.html