TikTok’s Virtual Coins Could Qualify as Crypto, FCA Warned

Quick Summary:

TikTok’s Virtual Coins Could Qualify as Crypto, FCA Warned The UK’s Financial Conduct Authority (FCA) has been alerted by a compliance expert that TikTok’s virtual coin system may fall under the category of a crypto asset exchange according to existing regulatory frameworks.

This development comes amid the FCA’s intensified focus on digital assets, having approved only 48 out of 500 crypto firm applications by October 2024.

TikTok Coins: A Growing Virtual Economy TikTok Coins are a virtual currency that users purchase with real money to support their favorite content creators.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: India

Topics: TikTok Crypto News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 02:17:54 (1 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 550 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 23081326

View Article Analysis

About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 21 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 11 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #121

Publisher Details

Frequently Asked Questions