Spanish watchdog collides with footballer Andrés Iniesta for Binance tweet

Von Krypto News Österreich

The Spanish market viewing authority has criticized one of the country's football heroes for the promotion of the digital asset platform Binance in a social media exchange that takes place at a time when crypto companies are fighting to achieve sports fans around the world.

The National Securities Market Commission reacted to Andrés Iniesta, who achieved the winning goal at Spain's World Cup victory in 2010 after he had posted pictures of himself on Twitter that apparently used the Bony platform.

The tweet des Watchdog, which was sent late Wednesday, reminded Iniesta that "Kryptoassets as not regulated products hide some relevant risks".

The supervisory authority told the Financial Times that it was concerned about athletes and other “influencers” who advertise cryptocurrencies from an audience that does not necessarily understand how the market works or which regulations apply - or not.

The Spanish waking dog's intervention is done because the advertising for crypto exchanges and tokens is booming in sports. The cryptocurrency exchange crypto.com based in Singapore agreed last week to pay $ 700 million for $ 20 for $ 20 at the Los Angeles Arena, in which the basketball team of the Laker's Championship is located.

The Commission asked prominent and influencers to "pay attention to the recommendation of" investments in non -regulated products that hide additional risks ".

"All of this prompted us to say iniesta last night, which we admire and who gave us great pleasure, please before you recommend this, inform your supporters about the risks; this is also the responsibility," said the watchdog.

Rakuten-the Vissel Kobe, the Japanese club, for which Iniesta plays-has a crypto exchange. Representatives of Iniesta did not immediately respond to inquiries about comments.

In reports published on Thursday, the Spanish Association of Financial users, a non -profit consumer protection organization, estimates a survey that more than 4.4 million Spaniards have invested in cryptocurrencies and that 41 percent of them consider cryptocurrencies to be safe.

Iniesta is not the only known footballer who supported Binance. Raúl Jiménez, who plays for the Premier League club Wolverhampton Wanderers, the Colombian player James Rodríguez and the striker of Atlético Madrid, Luis Suárez, published pictures of themselves at the beginning of the month under the hashtag #binanceforall.

The crypto exchange related to the three sports stars last week, which advertised a social media competition: "Become creative with @jamesdrodrodriguez, @luissuerez9, @raul_jimenez9 on #binance and you could win," said the main account of the group on Twitter.

The three footballers together have 39 million followers on Twitter.

representatives of Jiménez, Rodríguez and Suárez did not react immediately to inquiries about comments.

Binance said: "We are very agreed with the opinion of the Spanish supervisory authority."

The social media intervention of the Spanish regulatory authority reflects the efforts of the British Financial Conduct Authority and other guard dogs to improve influencers that promote, restrict, restrict cryptocurrencies and in particular to warn younger investors of the risks of digital assets.

The British regulatory authority has started an online marketing campaign worth £ 11 million, using TikTok ads and a partnership with the Olympic BMX gold master Charlotte Worthington to warn younger investors.

"We fear that we will not reach this target group," said Sarah Pritchard, Executive Director of Markets from FCA, last month. "We do not communicate about the mechanism that they use and which affects them."

The Spanish Securities Commission said that the state of the country had asked her to regulate crypto advertising, while the EU was waiting for blockwide regulations for crypto. However, the Commission still has to formal these powers, since the Spanish advertising regulations still have to come into force.

"We are clear that we will not reach the new audience - young people or people between 30 and 45 - with press releases and communiqués, so we strive to use other channels, formats, even a different kind of language," said the Commission.


Source: Financial Times