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What does Ofcom do?

Ofcom is responsible for the management, regulation, assignment and licensing of the electromagnetic spectrum in the UK, and licenses portions of it for use in television and radio broadcasts, mobile phone transmissions, private communications networks, wireless devices and so on.

When was Ofcom created?

On 20 June 2001, the Queen's Speech to the UK Parliament announced the creation of Ofcom. The new body, which was to replace several existing authorities, was conceived as a "super-regulator" to oversee media channels that were rapidly converging through digital transmission.

What areas does Ofcom regulate?

Some of the main areas Ofcom regulates are TV and radio standards, broadband and phones, video-sharing platforms online, the wireless spectrum and postal services. The regulator was initially established by the Office of Communications Act 2002 and received its full authority from the Communications Act 2003.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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