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4chan fined $26K for refusing to assess risks under UK Online Safety Act (arstechnica.com)
submitted 1 year ago by to c/technology@lemmy.world
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If 4chan continues to ignore Ofcom, the forum could be blocked in the UK. And 4chan could face even bigger fines totaling about $23 million or 10 percent of 4chan’s worldwide turnover, whichever is higher. 4chan also faces potential arrest and/or "imprisonment for a term of up to two years," the lawsuit said.

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[–] 0 points 1 year ago* (4 children)

4chan agreed to the terms of service agreement here:

https://www.coinbase.com/legal/user_agreement/united_states

  • Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of virtual currency.

That means they agree their business can be affected by international regulations.

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  • [–] 3 points 1 year ago (3 children)

    No, that's not what it says.

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  • [–] 0 points 1 year ago* (2 children)

    I know, its hard to believe your eyes, but it does say they can be adversely affected by international legislation and regulations if they want to do business there.

    They could always opt to use a US-based payment processor that doesn't deal with international payments.

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  • [–] 3 points 1 year ago (1 child)

    It specifically talks about the value of crypto currency, which can be affected by any number of external events. I'm going to assume you're simply trolling now.

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  • [–] 0 points 1 year ago*

    Your company’s policies, procedures, and activities which relate to the Services, in each case to the extent reasonably necessary for Coinbase to comply with any applicable laws, rules, and regulations (including money laundering statutes, regulations and conventions of the United States or other jurisdictions), or the guidance or direction of, or request from, any regulatory authority or financial institution.

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