The U.K. has officially enacted its landmark Online Safety Act, ushering in stringent regulations to combat harmful content online and hold tech giants like Meta, Google, and TikTok accountable. The new rules, effective Monday, aim to tackle illegal content, including terrorism, hate speech, fraud, and child sexual abuse, with oversight by the British media and telecommunications regulator, Ofcom.

Ofcom has issued its initial codes of practice and guidance, detailing the steps platforms must take to comply with the law. The act imposes “duties of care” on tech firms, requiring them to prevent harmful content from spreading on their platforms. Companies have until March 16, 2025, to complete risk assessments of illegal harms and implement measures such as enhanced moderation tools, easier reporting systems, and in-built safety features.

Ofcom Chief Executive Melanie Dawes emphasized the regulator’s commitment to enforcing the new standards. “We’ll be watching the industry closely to ensure firms match up to the strict safety standards set for them under our first codes and guidance, with further requirements to follow swiftly in the first half of next year,” she said in a statement.

The Online Safety Act, which passed in October 2023, includes severe penalties for non-compliance. Ofcom can impose fines of up to 10% of a company’s global annual revenue. For repeated violations, senior managers may face imprisonment, and the regulator has the authority to block access to services in the U.K. or restrict platforms’ payment and advertising capabilities.

TikTok’s efforts to overturn a law that could force its ban or sale in the United States by early 2025 have hit a major roadblock, with a federal appeals court rejecting its argument that the legislation violates free speech rights.

The controversial law, supported by bipartisan efforts in Congress and successive administrations, stems from concerns about TikTok’s alleged ties to the Chinese government. Both TikTok and its parent company, ByteDance, have consistently denied these accusations.

The appeals court upheld the legislation, stating it was designed to address “a well-substantiated national security threat posed by the PRC (People’s Republic of China)” and targeted foreign adversary influence.

TikTok, however, remains steadfast in its defense, announcing plans to escalate the case to the US Supreme Court.

“The Supreme Court has an established historical record of protecting Americans’ right to free speech, and we expect they will do just that on this important constitutional issue,” a TikTok spokesperson said in a statement.

The company also criticized the law, calling it based on “inaccurate, flawed, and hypothetical information” and emphasizing that a ban would amount to censorship of its 170 million US users.

The political landscape surrounding TikTok’s future could shift with Donald Trump’s return to the presidency. During his 2024 campaign, Trump indicated that, unlike his earlier efforts to ban the app, he would not enforce the impending legislation.

Bitcoin has shattered the long-anticipated $100,000 milestone, surging to $103,400 early Thursday before retreating slightly. The achievement has sparked widespread speculation about the cryptocurrency’s future trajectory and its ability to sustain such historic highs amidst its well-known volatility.

Dan Coatsworth, an investment analyst at AJ Bell, hailed the milestone as a “magic moment” and linked the price surge to Donald Trump’s election victory. Trump, who has championed pro-cryptocurrency policies, celebrated on social media, declaring, “Congratulations Bitcoiners” and “You’re welcome!”

The president-elect’s pledge to make the United States a “crypto capital” and appoint pro-crypto figures like former SEC commissioner Paul Atkins has been pivotal in driving investor optimism. Atkins, widely regarded as more favorable to cryptocurrencies than current SEC chief Gary Gensler, is expected to foster regulatory clarity, potentially encouraging broader adoption.

Andrew O’Neill, a digital assets expert at S&P Global, noted that anticipation of crypto-friendly policies under the new administration is fueling Bitcoin’s upward trend. “This momentum is likely to carry forward into the new year,” O’Neill said.

However, the cryptocurrency’s unpredictable nature remains a cautionary tale. While many have reaped significant gains, analysts like Coatsworth warn that Bitcoin’s speculative and volatile nature could lead to sharp corrections.

Despite the risks, Bitcoin’s breakthrough reflects growing mainstream acceptance and the evolving role of cryptocurrencies in global finance.