New Spanish regulations on the focus of crypto investment ads-regulation

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as part of the regulations that are supposed to come into force in mid-February, the promoters of crypto-asset systems must inform the Spanish security supervision of the content of each advertisement that aims at over 100,000 people.

10-day consultation rule

The Spanish government has commissioned the country's security supervision to approve advertising that advertises cryptocurrencies, according to a report. As part of the new measures, the promoters of crypto systems must inform the Comisión Nacional del Mercado de Valores (CNMV) about every advertising campaign about ten days before the start of such a campaign that aims at more than 100,000 people.

according to A these regulations that should come into force in mid-February CNMV enable all types of crypto -related advertising. The rules will also enable the Watchdog to assume warnings of risks associated with the investment in certain crypto assets.

In the meantime, the report states that influencers with more than 100,000 followers will be similarly obliged to inform the watchdog about all crypto -related investments that intend to promote. This special requirement also forces influencers to inform their followers about the risks associated with the investments they have funded.

CNMV aims at influencer from

The report explains the government's decision to improve influential persons who promote crypto-assets, and quotes CNMV's public complaint against the Spanish footballer Andres Iniesta in November. The complaint followed a tweet from Iniesta, which apparently promoted the Binance cryptocurrency trading platform.

By scolding the footballer, the CNMV said that Iniesta had to collect enough information about cryptocurrencies before making an investment or recommended this to his 25 million followers on Twitter and 38 million on Instagram.

In the meantime, the decision of the CNMV follows to address influencers that are paid for the promotion of crypto-asset investments reports that the US reality television star Kim Kardashian Mayweather Jr. are sued for her role in promoting Ethereummax and the Emax cryptocurrency.

In this complaint, the plaintiff accuses Both Kardashian-who is reported routinely for advertising posts-as well as Mayweather, to have contributed to creating sufficient trade volumes that enable the creators of Ethereummax tokens to hand over to unsuspecting investors.

What do you think of the decision of Spain to regulate crypto advertising? Tell us your opinion in the comments below.

Terence Zimwara

Terence Zimwara is an award -winning journalist, author and writer from Zimbabwe. He wrote in detail about the economic problems of some African countries and how digital currencies Africans can offer an escape route.












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