Advertisers will have to put a disclaimer while promoting the “highly risky” and unregulated cryptocurrencies from April 1, a self-regulatory body for the industry said on Wednesday. All virtual digital assets (VDAs), which are commonly referred to as crypto or non-fungible tokens (NFTs), will have to put the disclaimer in a “prominent and unmissable” way…
“Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.” The Advertising Standards Council of India (ASCI) wants this disclaimer prominently displayed on ads and promotions related to virtual digital assets (VDAs) like cryptos or non-fungible tokens (NFT). Noting that several advertisements…
A 27-year-old man held an Apple Store customer hostage for several hours at the company’s flagship store in Amsterdam and demanded $200 million in cryptocurrency. The suspect, in camouflage gear, fired a gun and then held an Apple employee hostage for several hours before being apprehended late on Tuesday. Several other people who were also…
US President Joe Biden is likely to move executive order to regulate cryptocurrency this week, as per media reports. As per a memorandum by the US National Security Council (NSC) memorandum, government agencies, include the Departments of the Treasury, State, Justice, and Homeland Security, will be asked to assess the risks and opportunities that crypto…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Bitcoin miners are feeling the heat – and the pain’s rippling downstream to pressure prices. The cryptocurrency’s spectacular rally in 2021 drew thousands of entrants into mining, or producing new coin. As a result the hashrate, or combined computational power used by Bitcoin miners globally, has…
World’s largest NFT (non-fungible token) marketplace, OpenSea on Sunday confirmed that it has been hit by a phishing attack and at least 32 users had lost their valuable NFTs worth $1.7 million. OpenSea Co-Founder and CEO, Devin Finzer acknowledged the phishing attack, confirming that 32 users have lost NFTs so far. He said rumours that…
Victims in Singapore have lost more money to bogus investment schemes than any other ruse in the last three years, especially falling prey to Chinese-origin “pig-butchering” cryptocurrency scam, losing SGD190.9 million last year, over five times the SGD36.9 million in 2019. Fraudsters spend months cultivating a relationship with the victims before urging them to invest…
Tesla CEO Elon Musk has announced that the company’s supercharging station will accept cryptocurrency Dogecoin as payment. Santa Monica Supercharger will officially accept Dogecoin as payment, making it the first Supercharger in Tesla’s network to accept the crypto as a payment method. “Of course, you can pay in Doge (sic),” said Musk in response to…
In a landmark decision that can have its ramifications in several countries battling the rise of cryptocurrencies including India, a court ruling in the US has made it clear that influencers and promoters could be held liable for “peddling shady crypto investments”. The ruling by the 11th Circuit Court of Appeals in the US has…
As per Variety, Witherspoon’s Hello Sunshine has partnered with World of Women (WoW), the NFT collective, for the adaptations of non-fungible tokens. Talking about the same, Witherspoon said, “While the crypto and NFT space is largely dominated by men, there are inspiring leaders like World of Women creating incredible communities for women during this massive…
