Revises – Coin Network News https://coinnetworknews.com If it's coin, it's news. Mon, 29 Jan 2024 19:11:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 Google Revises Guidelines To Allow Bitcoin ETFs To Advertise Their Products https://coinnetworknews.com/google-revises-guidelines-to-allow-bitcoin-etfs-to-advertise-their-products/ https://coinnetworknews.com/google-revises-guidelines-to-allow-bitcoin-etfs-to-advertise-their-products/#respond Mon, 29 Jan 2024 19:11:27 +0000 https://coinnetworknews.com/google-revises-guidelines-to-allow-bitcoin-etfs-to-advertise-their-products/

Today, Google has revised its advertising guidelines, now permitting cryptocurrency trusts, such as Bitcoin Exchange-Traded Funds (ETFs), to promote their products. Spot Bitcoin ETF issuers such as BlackRock and Franklin Templeton have wasted no time in marketing their funds, with advertisements already starting to emerge.

This revision comes at an interesting time as the discussion around Bitcoin ETFs continues to gains momentum, after the US Securities and Exchange Commission (SEC) approved the first batch of spot Bitcoin ETFs in the country. Google’s decision to allow advertising for Bitcoin ETFs provides these financial instruments with a much broader reach and exposure to a wider audience.

The updated guidelines mean that companies managing Bitcoin ETFs can now leverage Google’s advertising platform to raise awareness and attract investors. This change could contribute to increased visibility and understanding of Bitcoin ETFs among both institutional and retail investors.

Google’s decision aligns with the growing acceptance of Bitcoin and related investment products in mainstream finance. The move is likely to help foster a more innovative environment for Bitcoin, as it integrates more into traditional financial markets. As the industry eagerly awaits to see how well these revised guidelines are for the Bitcoin ETFs, the impact on the advertising landscape for them could be substantial.



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]]> https://coinnetworknews.com/google-revises-guidelines-to-allow-bitcoin-etfs-to-advertise-their-products/feed/ 0 SEC revises $22M punishment against LBRY, seeks $111K instead https://coinnetworknews.com/sec-revises-22m-punishment-against-lbry-seeks-111k-instead/ https://coinnetworknews.com/sec-revises-22m-punishment-against-lbry-seeks-111k-instead/#respond Mon, 15 May 2023 01:27:50 +0000 https://coinnetworknews.com/sec-revises-22m-punishment-against-lbry-seeks-111k-instead/

The United States securities regulator is seeking to revise its $22 million punishment against decentralized content platform LBRY, acknowledging it is unlikely to be able to cough up the funds to be able to pay it. 

In a May 12 filing in a New Hampshire District Court, the Securities and Exchange Commission (SEC) sought an amendment to its request for remedies in its successful case against LBRY.

Instead of seeking the original $22 million — the amount it claims LBRY gained from the sale of its token LBRY Credits (LBC), the SEC has asked the court to impose a fine of $111,614, citing LBRY’s “lack of funds and near-defunct status.”

The request also asks to stop LBRY from “conducting future unregistered offerings of crypto asset securities.”

“The Commission acknowledges LBRY’s representations that it is defunct, ceasing operations, and without the funds to pay a larger fine, and recognizes that a defendant’s ability to pay is a factor when imposing a civil penalty,” the SEC said in the filing.

The SEC first filed a civil suit against LBRY in March 2021 alleging the firm’s LBC sales were unregistered securities offerings. It asked for $22 million in disgorgement and for the court to order LBRY to halt any further LBC sales.

The SEC won the case in November 2022, the preceding Judge also ruled LBC was a security.

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The SEC said the smaller penalty was a compromise between “the need to balance the deterrence from a penalty with LBRY’s inability to pay.”

In a December filing, LBRY claimed the SEC’s request for $22 million wasn’t reasonable as it was “vastly” overstated and failed to “deduct any of LBRY’s legitimate business expenses.”

LBRY said the SEC’s calculation of the sum was “based on rough, back-of-the-envelope math” and the amount it sought was “simply not supported by the record.”

In December 2022, around a month after the SEC won the case a month prior, LBRY said it “will likely be dead in the near future” due to being “killed by legal and SEC debts.”

Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?