News updates January 19, 2022
1. UK to Tighten Rules on Crypto Ads to Ensure They’re Fair, Clear, Not Misleading
The U.K. government has announced plans to impose new rules on cryptocurrency ads to ensure they are fair, clear, and not misleading to consumers. The rules will be enforced by the Financial Conduct Authority (FCA).
UK to Impose New Rules on Crypto Ads
The U.K. government announced Tuesday plans to impose new rules on cryptocurrency advertisements to “protect consumers from misleading claims.” The announcement states:
New rules will increase consumer protection while encouraging innovation.
2. Australian Regulator Warns Against Investing Retirement Funds in 'High Risk' Crypto-Assets
An Australian regulator has warned residents seeking to self-manage their retirement funds to be wary of investing in crypto-asset investments that promise high returns in a short space of time. The regulator reiterates in the warning that crypto-assets are a high-risk and speculative investment.
3. New Spanish Regulations to Target Crypto Investment Ads
As part of regulations that are set to become effective in mid-February, crypto-asset investment promoters will be required to inform the Spanish securities watchdog of the contents of any ad that targets over 100,000 people
10-Day Advance Notice Rule
The Spanish government has tasked the country’s securities watchdog with authorizing advertisements that promote cryptocurrencies, a report has said. Also, as part of the new measures, crypto-asset investment promoters will be required to notify the Comisión Nacional del Mercado de Valores (CNMV) of any promotional campaign that targets more than 100,000 people some ten days before such a campaign commences
According to a report, these regulations, which are set to become effective in mid-February, will enable the CNMV to monitor all types of crypto-related advertisements. The regulations will also enable the watchdog to include warnings of risks associated with investing in certain crypto assets.
Meanwhile, the report stated that influencers with more than 100,000 followers will similarly be required to inform the watchdog of any crypto-related investments they intend to promote. This particular requirement further compels influencers to inform their followers of the risks that are associated with the investments they promote.
4. Microsoft Makes a USD 69B Gaming & Metaverse Bet
Tech giant Microsoft has announced plans to acquire Activision Blizzard, a major game developer and an interactive entertainment content publishe
Microsoft said it will acquire Activision Blizzard for USD 95.00 per share, or around 45% more than it was valued before the announcement, in an all-cash transaction valued at USD 68.7bn, "inclusive of Activision Blizzard’s net cash", adding that:
This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse."
This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse.
5. Crypto Jobs Boomed In 2021 Amid Funding Influx - LinkedIn
Crypto-related job postings skyrocketed in 2021, indicating disruption across industries, according to a recent analysis by employment-oriented social media platform LinkedIn.
key words such as bitcoin (BTC), ethereum (ETH), blockchain, and cryptocurrency expanded by a robust 395% year-on-year in the US -- outpacing the wider tech industry which reported a 98% increase in listings during the same year, the report says
Most of the job postings were in software and finance, LinkedIn said, and noted that other industries too are seeing "a rise in demand for crypto talent," including professional services like accounting and consulting, as well as the staffing and computer hardware sectors.
6. Bitcoin and Ethereum Stuck Between Key Levels, ETC and THETA Rally
Bitcoin price is struggling to recover above USD 42,750.
Ethereum is facing hurdles near USD 3,200, XRP settled below USD 0.75.
ADA keeps trimming its gains, while ETC and THETA are rallying.
Bitcoin price extended decline below the USD 41,800 level. BTC even tested USD 41,250 and recently corrected higher. It is currently (04:01 UTC) trading above USD 41,700, but a break above USD 42,750 is needed for a decent recovery.
Similarly, most major altcoins are attempting an upside correction. ETH spiked below USD 3,120, but the bulls protected USD 3,050. XRP is struggling to settle above USD 0.750. ADA trimmed gains and declined below USD 1.50.
