Starting January 15, 2025, Google will enforce stricter regulations for crypto-related advertisements in the United Kingdom. The tech giant has announced that advertisers promoting digital asset exchanges or software wallets must register with the Financial Conduct Authority (FCA) to run ads targeting UK audiences.
This policy update also includes hardware wallets used to store private keys for cryptocurrencies, non-fungible tokens (NFTs), or other digital assets. However, advertisements for hardware wallets will only be permitted if they do not offer additional services like buying, selling, or trading digital assets.
Google emphasised that advertisers must comply with local laws in all targeted jurisdictions. This new requirement underscores the company’s commitment to ensuring crypto advertisements align with financial regulations. “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 stated.
Tether Invests $775 Million in Video Platform Rumble
Tether, the issuer of the world’s largest stablecoin by market capitalisation, has announced a $775 million investment in Rumble, a video-sharing platform positioned as an alternative to YouTube. Known for its uncensored content, Rumble aims to challenge YouTube’s dominance in the global video-sharing market.
Paolo Ardonio, Tether’s CEO, highlighted the company’s commitment to freedom of speech and financial independence. “Our strategic investment in Rumble greatly underscores Tether’s focus on supporting technology and companies that empower humans, delivering independence and resilience to our society,” he said in a December 20 post on X (formerly Twitter).
Rumble CEO Chris Pavlovski echoed this sentiment, expressing enthusiasm for the collaboration with Tether. Pavlovski declared his intention to compete with YouTube’s market share, stating, “YouTube, lookout. I’m coming for your monopolistic market share globally.”
The partnership between Tether and Rumble will focus on developing advertising, cloud, and crypto payment solutions, leveraging their shared vision for decentralised platforms.
Canadian Biopharma Firm Adds Bitcoin to Its Treasury
Quantum BioPharma (QNTM), a Canadian biopharmaceutical company, has added $1 million worth of Bitcoin and other cryptocurrencies to its balance sheet. The announcement, made on December 20, marks the company’s entry into the crypto space as a financing and transaction mechanism.
“The company is now set up to receive financing in cryptocurrencies as well as execute other types of transactions in cryptocurrencies,” Quantum stated.
Despite the strategic move, investors reacted negatively, causing Quantum’s stock to plummet by over 13% on the same day. As a nanocap stock with a market capitalisation of approximately $6 million, Quantum remains highly susceptible to volatility.
Public and private companies have increasingly turned to Bitcoin as a treasury asset to mitigate inflation. In November, e-commerce firm Jive Technologies approved a plan to allocate up to $1 million to Bitcoin. Similarly, Rumble announced plans to incorporate Bitcoin into its corporate treasury.
Summary
Today’s crypto developments highlight significant regulatory, corporate, and investment trends. Google’s stricter ad policies signal a tightening of regulatory oversight in the UK, while Tether’s investment in Rumble underscores the growing integration of crypto with decentralised platforms. Meanwhile, Quantum BioPharma’s Bitcoin purchase reflects the expanding adoption of cryptocurrencies in corporate treasury strategies, despite market volatility.
