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XRP LAWSUIT NEWS: EX-SEC LAWYER REVEALS RIPPLE WAS DISCUSSED WEEKLY, PREDICTS POSSIBLE DISMISSAL OF APPEAL
Ripple-SEC closed meeting sparks rumors of potential case dismissal, fueling XRP community’s hope for a major rally ahead.
Former SEC lawyer predicts possible XRP case closure, as government shutdowns and RLUSD launch impact Ripple’s future prospects.
There are rumors that Ripple and the SEC will have a closed meeting, which could lead to a significant development in the XRP case. Speculation suggests that the meeting may result in the case being closed or dropped entirely, with answers expected soon.
A user reacted to this, praising the XRP community for its unwavering perseverance. Despite being wrong many times, the community continues to stay positive and hopeful, showing up every month for updates.
Ex-SEC lawyer Marc Fagel believes the SEC will continue on its current path for now, filing the opening brief as planned. He also pointed out that the new SEC chair could take some time to be confirmed, and it’s possible that they may vote to dismiss the appeal. Though it’s an unusual step, Fagel thinks it’s a possibility if the right people are in charge.
SEC’s Shutdown, RLUSD Live and More
In other news, the SEC is preparing for a government shutdown, which could impact its operations. Government shutdowns and financial instability, like the US government’s debt issues, have added pressure on the market.
Ripple’s RLUSD launch had positive price action initially but has since been impacted by market downturns. Brad Garlinghouse, Ripple’s CEO, believes RLUSD will be big for the company’s future. With SEC’s clarity and possible case dismissal, XRP might be up for a massive rally.
@ Newshounds News™
Source: Coinpedia
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GOOGLE TO REQUIRE UK CRYPTO ADS TO REGISTER WITH FINANCIAL REGULATOR STARTING JANUARY 2025
The new policy will take effect on January 15, 2025.
Hello, World!
Google has announced a policy update requiring advertisements for digital asset exchanges and wallets in the United Kingdom to register with the Financial Conduct Authority (FCA) before being allowed to run on its platform.
The new policy will take effect on January 15, 2025, the search engine company said in a recent announcement.
Under the updated rules, advertisers offering crypto exchange services or software wallets in the UK must meet specific conditions to promote their products.
UK Crypto Firms Need to Register with FCA
Chief among these is registration with the FCA, ensuring compliance with the country’s financial regulations.
Additionally, Google will permit advertisements for hardware wallets that store cryptocurrency private keys, non-fungible tokens (NFTs), or other digital assets.
However, these hardware wallet providers must avoid offering ancillary services such as buying, selling, or trading digital assets.
While the search giant did not provide additional requirements for hardware wallet ads, it emphasized that all advertisers must adhere to local laws in their targeted regions.
“As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these financial products,” Google said.
The new policy underscores the growing scrutiny of crypto-related advertisements worldwide as regulators attempt to curb misleading promotions.
In the UK, the FCA recently issued a warning about the Solana-based memecoin and NFT project “Retardio.”
The regulator flagged the project for unauthorized promotions targeting UK consumers, cautioning that investors might face financial losses if the company fails.
Elsewhere, Nigeria’s Securities and Exchange Commission (SEC) has also introduced stricter advertising guidelines for crypto products.
The SEC now requires virtual asset service providers and influencers to secure agency approval before publishing promotional materials.
Google Ads Promotes Fake Crypto Websites
As reported, a sponsored Google ad posing as a link to Sony’s blockchain project, Soneium, was exposed as a cleverly disguised crypto wallet drainer.
In October, a search for “soneium” on Google led users to a phishing site designed to steal crypto assets.
The ad linked to a website with a domain name similar to Soneium’s official site, which appeared as a legitimate yet unfinished landing page for a radiology service based in the UK.
In another incident, a fraudulent cryptocurrency wallet app on Google Play reportedly stole $70,000 from users in a sophisticated scam that has been described as a world-first for targeting mobile users exclusively.
The malicious app, named WalletConnect, mimicked the reputable WalletConnect protocol but was, in fact, a sophisticated scheme to drain crypto wallets.
The deceptive app managed to deceive over 10,000 users into downloading it, according to Check Point Research (CPR), the cybersecurity firm that uncovered the scam.
The scammers behind the app were well aware of the typical challenges faced by web3 users, such as compatibility issues and the lack of widespread support for WalletConnect across different wallets.
@ Newshounds News™
Source: CryptoNews
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