Interesting facts about scammers and meme coins. Since October 2023, promoting “qualifying cryptoassets” (most transferable fungible tokens, including many meme coins) to UK people is heavily restricted under the Financial Services and Markets Act 2000 (FSMA) financial promotions regime (section 21). • Unauthorised invitations or inducements to deal in/buy such assets are a criminal offence (up to 2 years’ imprisonment and/or an unlimited fine). • Promotions must be fair, clear and not misleading. Claiming a “guaranteed win,” a specific 10 million market cap outcome, or directing people to “buy the dip” and buy “at least 2% of the volume” is classic material that fails this test. The FCA has specifically flagged social media/meme-style crypto promotions. • Advising on investments (telling people what/when/how much to buy) can itself be a controlled activity. Doing it without the right FCA authorisation or approval route is problematic. • Civil consequences: If someone bought because of an unlawful promotion, the agreement can be unenforceable against them and they can recover money paid plus compensation for losses (FSMA provisions). Misrepresentation (Misrepresentation Act 1967), deceit, or unjust enrichment claims are also common routes for losses after crypto promotions that turned out false. Watch this space. House of cards. #cryptoscam #XRP #Scammers #report #FCA #HMRC LOL

Lol

XRP 2022 chart V today. I’m still convinced it’s following the same pattern. Maybe a short pump then the big rejection to $1.06 region. I’ve my cash position ready. #xrp #xrpl

What hurts most in the meme space isn’t so much the rugs or the losses. It’s the people you actually trusted quietly positioning themselves first, then dumping on everyone else. That one stays with you.

Unbelievable.

As a former British Officer this is a disgrace. Those poor soldiers.

Belief is measured when we are down not up. A new dawn. #XRP