Does the UK Allow Crypto Advertising? Solana and Cardano Battle SEC While Big Eyes Coin Shows Potential
People are drawn into the lure of the glamorous world of cryptocurrency despite being aware of the inherent risk of potential losses. Recently, The UK Financial Conduct Authority (FCA) and the US Security and Exchange Commission (SEC) have taken some serious steps against cryptocurrencies, such as Solana (SOL) and Cardano (ADA), in order to regulate the world of crypto and save investors from huge losses.
But in the meantime, Big Eyes Coin (BIG) emerges as a shelter for investors because of its innovative P2E games, successful presale and partnership with Centralised Exchange (CEX) Poloniex and Decentralised Exchanges (DEX) Uniswap and OKX.
FCA to Regulate Crypto Ads
Once legal frameworks are established, the UK’s Financial Conduct Authority (FCA) intends to put strict guidelines in place for cryptocurrency advertising. With the new rules, companies will have to include risk warnings, a 24-hour cooling-off period, and forgo incentives like “refer a friend.” No matter these projects are based, the restrictions will apply to any cryptocurrency businesses that target customers in the UK.
The executive director of the FCA, Sheldon Mills, underlined the value of getting ready for this huge transition. Violations can result in imprisonment or fines. The FCA’s promotions system will apply to eligible crypto assets starting on October 8, allowing registered firms to temporarily authorise their own advertisements.
SOL and ADA Vs. SEC
As these guidelines take place in the UK, the US Security and Exchange Commission has also taken some serious steps against well-known cryptos. Due to the SEC’s classification of the SOL and ADA tokens as “a security” in two separate lawsuits filed on June 5 and June 6, Solana (SOL) and Cardano (ADA) are currently involved in legal processes. The classification is based on a number of factors, including the use and marketing of the tokens as well as hopes for gains from others’ labour.
The Solana Foundation and IOG reject the labelling of SOL and ADA as “a security” but support government intervention to foster legal clarity in the digital asset market. Investment contracts, stocks, and bonds are included in the SEC’s definition of securities.
A simple agreement for future tokens (SAFT) was used by the Solana Foundation to execute private token sales to venture capital companies and institutional investors. During Solana’s initial coin offering in March 2020, a public sale of SOL tokens raised $1.76 million by distributing 8 million tokens at a price of $0.22 each. On the other hand, ADA’s price fell by 3% over the past day as SEC lawsuit tokens continued to be sold off due to traders’ worries about regulatory risk.
Big Eyes Coin Emerges As A Shelter
Think tanks have noted that meme coins associated with concepts like “Web3” and “cryptocurrencies” have grown intimately despite the upsetting updates for cryptocurrency investors. These coins have become well-known because of their active social media presence, ability to form close-knit communities, and ability to draw risk-takers and traders looking for profitable chances. As BIG prepares for its eagerly awaited launch on June 15, a fortunate turn of events, presenting Big Eyes Coin, a potential option for cryptocurrency fans seeking protection.
Big Eyes Coin, an Ethereum-based meme coin, has successfully completed its presale after an amazing 15-stage journey. With promotional deals excluded, the presale earned an amazing $27.46 million in funds. The genuine success of BIG, however, comes in its capacity to draw a devoted group of over 46,300 BIG holders, known as the Kitty Cuddlers.
Exciting developments have come to light, confirming partnerships with renowned centralised exchange (CEX) firm Poloniex and decentralised exchanges (DEX) like Uniswap and OKX. Token holders will have the chance to purchase or use BIG as the launch draws near, with a price set at $0.0006.
Two months after its introduction, BIG will present its GameFi festivities on August 29. With more than 4000 games available, the Web3 universe will enthral players everywhere and increase BIG’s trading activity and market capitalisation. The occasion will greatly benefit the BIG token, improve its ecosystem, and raise awareness of the adoption and sustainability of cryptocurrencies. Prepare yourselves for the revolution.
Where to Invest?
Despite the risks, the world of cryptocurrencies continues to captivate. Industry regulation and investor protection are the main objectives of regulatory organisations like the FCA and SEC. BIG, with its innovative features and partnerships, stands out as a promising haven in this environment. It’s anticipated that future GameFi events will increase trading activity and market capitalisation, encouraging acceptance and sustainability of cryptocurrencies.
Big Eyes Coin (BIG)
Website: https://bigeyes.space/
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