{"id":139791,"date":"2024-10-16T08:30:55","date_gmt":"2024-10-16T05:30:55","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139791"},"modified":"2024-10-16T00:15:45","modified_gmt":"2024-10-15T21:15:45","slug":"experts-warn-tiktok-may-function-as-an-unregulated-crypto-exchange","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/experts-warn-tiktok-may-function-as-an-unregulated-crypto-exchange\/","title":{"rendered":"Experts Warn TikTok May Function as an Unregulated Crypto Exchange"},"content":{"rendered":"

The letter<\/a> <\/strong>to the FCA suggests that TikTok Coins, used within the app for user transactions and creator rewards, might fall under the regulator\u2019s crypto asset regulations.<\/p>\n

Users buy these coins with real money to send digital gifts to content creators, essentially converting fiat into a form of digital asset.<\/p>\n

The expert argues that TikTok\u2019s system resembles a form of virtual asset exchange, raising concerns about the platform\u2019s compliance with anti-money laundering regulations. TikTok is not registered with the FCA as a digital asset service, which could indicate a gap in monitoring the origins of funds used in its economy.<\/p>\n