Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Monday, September 25th, and today we are updating ourselves on the

geopolitical landscape of crypto. Before we get into that, however, if you are enjoying the breakdown,

please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into

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breakdown pod. Hello friends. Hope you had a great weekend. There are lots of interesting things to

catch up on. And today, a slight theme in some of these stories is where different countries are

positioning themselves vis-a-vis crypto. Now, the UK has had an interesting relationship with the industry. They were for a time

very harsh. The Financial Conduct Authority in the UK has never seemingly been that into the whole space.

But then when Rishi Sunak became Chancellor of the Exchequer, he declared that the UK would be

open for crypto business. He wanted to make the UK the most crypto-friendly jurisdiction in the world.

Well, of course, over the next few months, through a variety of weird ups and downs,

Rishi eventually ended up the prime minister. And of course, it might be reasonable then to ask,

is the UK getting friendlier for crypto companies? Well, on that front, Bibitt have announced

that they will suspend service to UK customers next week in response to

regulatory changes. The UK's Financial Conduct Authority, or FCA, will begin enforcement of new

marketing regulations starting on October 8th. The regulations require crypto firms to ensure

advertising is clear, fair, and not misleading, as well as presented alongside a risk warning.

Advertisements are required to be

certified by firms, but this process requires crypto firms to be registered in the UK. So far,

...