Table of Contents

• Crypto in the UK

• Jeff Bezos

• TikTok

Top Stories Today

Crypto in the UK

Britain’s financial watchdog plans to limit retail investors’ ability to purchase or borrow cryptocurrency using credit, as part of new efforts to increase consumer safeguards while regulating digital assets for the first time. The Financial Conduct Authority (FCA) is considering prohibiting the use of credit cards and e-money credit lines for crypto purchases, citing concerns over investor risk, with 14% of holders reportedly using credit for such buys in 2023. The government’s draft rules also propose stricter oversight of crypto lending and borrowing, including credit checks and assessments of investor knowledge. Institutional players would remain exempt. The FCA also aims to enhance transparency around staking, as 27% of UK crypto owners have used it. The move follows the Treasury’s announcement to bring exchanges and token issuers under existing financial regulations.

Jeff Bezos

Jeff Bezos plans to sell up to 25 million Amazon shares, valued around $4.8 billion, over the next year, according to a regulatory filing. The planned sale, initiated under a trading strategy adopted in March, follows Amazon’s first-quarter report, which exceeded profit and revenue expectations but provided a cautious earnings outlook due to tariff-related uncertainty under President Trump’s administration. Earlier in the week, Trump reportedly called Bezos to criticize a rumored pricing disclosure plan tied to import duties, which Amazon denied. Bezos last sold Amazon stock in 2023 and continues to use proceeds from sales to fund ventures like Blue Origin and philanthropic efforts.

TikTok

TikTok has been fined €530 million by the European Union’s lead privacy regulator for failing to adequately safeguard EU user data, particularly due to concerns about access by Chinese staff and the potential for Chinese government interference. Ireland’s Data Protection Commission found TikTok in breach of the EU’s General Data Protection Regulation (GDPR), stating the platform did not ensure EU-standard protections for personal information that may be accessed remotely from China. The regulator ordered TikTok to halt such data transfers unless it can comply within six months. TikTok strongly disagreed with the ruling, citing its use of standard contractual clauses and enhanced security frameworks introduced in 2023. The company also said it has never shared EU user data with Chinese authorities and is planning to appeal the decision.

Thanks for reading, subscribe to The Standard Lens for more.