FSA Issues Warning to Japanese YouTuber for a Crypto-Related Ad
Fazzaco learned that the Financial Services Agency (FSA), the Japanese financial regulator, has issued a warning to Hiraku, a popular Japanese YouTuber for reportedly promoting the cryptocurrency exchange Bybit.
According to the regulator, Hiraku, who has around 4.4 million subscribers, promoted a crpto exchange without permissions to target Japanese residents. The FSA stated that Bybit doesn't have authorization to advertise on any media, including social media or platforms like YouTube.
Earlier this month, Fazzaco reported that the FSA has published a warning notice to Bybit, saying that the exchange is operating unregistered crypto services in Japan. This is not the first regulatory-related tussle that Bybit has faced over the year. Earlier, Bybit announced its decision to stop to provide services to customers from the United Kingdom in order to comply with the Financial Conduct Authority's (FCA) ban of crypto derivatives.
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