It seems regulators will not leave Meta, the parent company behind Facebook and Instagram, alone, even after the company abandoned its cryptocurrency projects. The new regulations drafted in the UK will target Metaverse developments.
If the metaverse concept matures into reality, it will change the way we have known social interaction. However, the question remains. Why take the trouble of creating a metaverse if it is going to be under the control of a few tech giants!
Meta, formerly known as Facebook, was notorious for its somewhat hostile attitude towards cryptocurrencies when it banned cryptocurrency ads. However, the company recently announced that it is rolling back the ban and allowing more crypto ads on its social media platform.
Crypto billionaires, while sometimes not fully influencing the volatility of crypto assets, significantly affect the stability of the crypto market when they make jokes either on their social media pages or in front of cameras. Elon Musk, after suspending Bitcoin in May, he says he is thinking about reinstating it. Why do such billionaires confuse the crypto market?
Social media can cause digital currency price fluctuations, for better or worse. For instance, the trending news about a big cryptocurrency exchange hack can cause a massive fall in token value. CoinIdol, a world blockchain news outlet, researches how the top 4 social media treat cryptocurrency and blockchain.
China seems to have started a real war against the cryptocurrency community. Shortly after banning crypto mining and trading, the government forces one of the country’s biggest social media platforms to ban fintech bloggers.
According to Statista, in 2020, over 55% of all Americans were investing in stocks. Dozens of trading platforms have emerged over the years, each offering a wide scope of functionalities and lucrative terms for new investors such as sign-up bonuses. Albeit the easy accessibility to everyone who wishes to get into it, trading is far from simple.