Connect with us

World News

Advertising Council of India Issues Guidelines on Ads for Crypto Assets – JURIST

Published

on

The Advertising Standards Council of India (ASCI) issued a set of guidelines on Wednesday designed to prevent risks to users of crypto assets and related services. Entitled “Guidelines for Advertising Virtual Digital Assets and Linked Services,” the guidelines prefer the term “Virtual Digital Assets” (VDAs) over crypto assets. They define a VDA as any information, code, or token, generated through cryptography or other means. , which acts as a representation or store of value or a unit of account, thus encompassing cryptocurrencies and related products such as non-fungible tokens (NFTs) .The guidelines are intended to protect consumers and investors from the risks arising from the VDA market. VDAs, the document states, are incredibly volatile as they are not regulated or backed by tangible assets. The guidelines seek to align VDA advertisements with the ASCI Code, which requires advertisements to be truthful, not misleading by “ambiguity , exaggeration or omission” and that do not exploit consumer confidence or lack of knowledge. Compliance with the ASCI Code as required by the Rules of the Cable Television Network of 1994 and several other entities that regulate different products. Most importantly, the guidelines require a disclaimer to prominently accompany all VDA advertisements and VDA trade-ins. The disclaimer must equal at least 20 percent of the total ad space in print or static form and at least five seconds in video. It should also appear in audio and social media ads. The disclaimer reads: “Crypto products and NFTs are unregulated and can be very risky. There may be no regulatory recourse for any losses from such transactions.” The guidelines prohibit VDA advertisers from comparing VDAs to regulated assets or using terms with connotations of being regulated, such as “currency” and “securities.” Advertisers are also prevented from contradicting warnings against crypto assets issued by financial regulators, downplaying risks, or positioning crypto assets as a guaranteed source of profit or a solution to financial problems. Minors are prohibited from “directly dealing” or discussing crypto assets in advertisements. Ads must contain clear and up-to-date information on all costs involved in VDA transactions. If information from past returns is included, it must be complete and not less than 12 months old. The advertiser’s name and contact details must also be provided. The guidelines, which follow the introduction of the new tax regime on cryptocurrencies, apply to all new listings from April 1. By April 15, advertisers must also modify older ads to comply with the guidelines.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

World News

Uzbekistan: Protests in autonomous republic over proposed constitutional reform – JURIST

Published

on

Protests erupted in Nukus, the capital of Uzbekistan’s autonomous republic of Karakalpakstan, on Friday over a proposed constitutional reform. According to a statement from the government of the region: Despite the policy of openness and free expression of will followed by the Republic of Uzbekistan, on July 1, 2022 in Nukus, a criminal group of people organized illegal actions expressed in an attempt to take over the state. administrative bodies of the Republic of Karakalpakstan. The demonstrators were protesting the planned removal of the section of the current constitution that allows Karakalpakstan the right to secede from Uzbekistan by referendum. This has caused outrage among the ethnic Karakalpak, who make up the majority of the population of Karakalpakstan. Karakalpaks from neighboring Kazakhstan held a round table discussion on the proposed change. One speaker, Rustem Matekov, stated that the day of the referendum on the new version of the constitution will be “the day of the funeral of the people of the Republic of Karakalpakstan”. However, the president of Uzbekistan, Shavkat Mirziyoyev, has challenged this view, saying: We, two peoples, have become one, we are blood relatives. Previously, the regions did not know the streets of Karakalpakstan or Nukus, but now we work as one people, the youth of Karakalpakstan achieve great results. […] I respect the Karakalpak people with all my heart and I can proudly say that I am a son not only of the Uzbeks, but also of the Karakalpak people. Removal is not the only proposal on the table. Other proposals include strengthening civil rights and extending the presidential term from five to seven years, which would allow Mirziyoyev to run again despite having served two consecutive terms.

Continue Reading

World News

US Supreme Court overturns lower court injunctions on state abortion laws – JURIST

Published

on

On Thursday, the US Supreme Court struck down three orders issued by lower courts in Arizona, Indiana and Arkansas that had invalidated abortion at the state level based on Roe v. Wade. This follows the Supreme Court’s reversal of Roe last Friday. The now-overturned Arizona ruling had stopped a state law criminalizing abortions performed on fetuses with non-lethal genetic abnormalities, of which Down syndrome is one. The injunction targeted relevant portions of four clauses of Senate Bill 1457, which makes it a felony for a physician to perform an abortion “knowing that the abortion is sought solely because of a genetic abnormality of the child.” The law also requires the doctor to sign an affidavit stating that the abortion is not performed for this reason and to inform the patient of the illegality of abortions due to genetic abnormalities. Finally, it requires doctors to inform the State when a genetic abnormality has been detected. This law was challenged in Brnovich v. Isaacson in 2021, and the injunction was upheld by the Ninth Circuit Court of Appeals. Arkansas’s 2019 ruling in Little Rock Planning Services v. Rutledge passed three laws that prohibited abortion in various circumstances. Arkansas Code, Title 20, Chapter 26, Law 493 prohibits abortions after 18 weeks of gestation, with exceptions for medical emergencies and pregnancies resulting from rape or incest. Law 619 prohibits all abortions solely on the basis of having a reason to believe that the fetus has Down syndrome, with the same exceptions. Law 700 requires that the person performing an abortion be a doctor licensed in obstetrics and gynecology. The federal court order of these laws was upheld by the Eighth Circuit Court of Appeals. In Indiana, a 2017 ruling in the case of Box v. Planned Parenthood of Indiana and Kentucky had mandated a law that prohibited abortions before 20 weeks in several cases. . The law, Indiana Code Chapter 16-34-4, prohibits abortions before 20 weeks if the abortion was for demographic, sexual, or fetal disability reasons. Specifically, abortion is prohibited if sought because of the possibility of a genetically inherited disease, defect, or disorder, whether or not it has been screened for or any risk is present. This includes, but is not limited to, Down syndrome and any mental, physical and intellectual disabilities. Abortions related to the sex of the fetus, or its race, color, national origin, or ancestry, are also prohibited. The Court of Appeals for the Seventh Circuit upheld the injunction. The three laws imposed by the precautionary measures will take effect immediately. These cases will be sent back to the lower court for further proceedings.

Continue Reading

World News

US Supreme Court denies Alaska Airlines request for exemption from state labor laws – JURIST

Published

on

The United States Supreme Court refused to hear a challenge from Alaska Airlines Inc. seeking a waiver of a California law requiring in-flight meals and rest, upending an earlier decision that sided with the United States. flight attendants in a battle for federal and state jobs. laws. The Ninth Circuit Court of Appeals ruled in its July 2021 decision Virgin America, Inc. v. Julia Bernstein, that the airline, which later merged with Alaska Airlines, had to comply with California state law in addition to federal regulations for flights within the state. Bernstein, a flight attendant, filed a class action lawsuit on behalf of California workers, alleging violations of state labor laws. This included a law requiring workers to have a 30-minute off-duty meal and a break after working five hours. The federal Airline Deregulation Act of 1978 did not preempt state law requiring rest and meal breaks. The airline group argued that the state law had a “significant impact on airline prices, routes and services” as more attendants and staff would have to be hired to meet the state’s rest requirements. The rejection of the request of the airlines can have lasting consequences. for the aviation industry, as well as state and federal labor regulations. The court’s decision also follows the guidance of the Biden Administration, as the Justice Department filed an amicus curiae brief on behalf of the flight attendants and instructed the court not to review the case or send it back to the appeals court.

Continue Reading

Trending

Copyright © 2022