Infinity Pull

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Members flagged the growing issue of illegal gambling sites’ advertising appearing across social media, an issue the sector in Netherlands has sought to tackle directly through legal action against Meta.

Speaking on behalf of the government, Van Bruggen said: “Meta, especially as one of the parties, but also Google, is really open to this conversation.”

She said the government would receive a report every six months on illegal gambling advertising across these platforms. She insisted the issue should also be dealt with at an EU level, through the Digital Services Act.

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The distinction matters for crypto businesses. The filing shows regulatory work is moving forward, but exchanges and other market participants cannot yet consider it a set of rules they must adhere to. 

The CFTC’s move also comes as other US regulators continue to craft their own crypto policies. The agency and the Securities and Exchange Commission (SEC) jointly issued an interpretation in March on how certain crypto assets would be treated under federal securities laws. 

A lot of bigger questions remain without the CLARITY Act. The bill aimed to establish a federal framework for digital commodities and delineate the roles of the SEC and the CFTC. 

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Midnite confirmed it had terminated its contract with Limay and would reinforce compliance reminders to its partners.

Limay Media acknowledged that the person depicted was an AI-generated fictional character rather than a real individual and claimed the design was intended to appear as an adult. 

The company admitted to lapses in its internal approval process, described the error as isolated and noted the ad was removed within a few hours.