Cryptocurrencies are a reality on a global scale, but legislation is lacking. However, some countries have defined some rules to control this “new” trend that affects the economic and financial aspect.
According to recent information, our neighbor Spain will tighten the blockade on cryptocurrency ads. Find out what will change starting in February.
Cryptocurrency Advertising: Influencers with over 100,000 subscribers must report
According to Reuters, Spain decided on Monday to regulate the advertising of cryptocurrencies, including via social media, instructing a stock market supervisor to authorize mass campaigns and ensure that investors are aware of the risks.
The Spanish government has said that advertisers and companies selling crypto assets will have to inform the CNMV's supervisory body (Comisión Nacional del Mercado de Valores) at least 10 days in advance of the content of campaigns targeting more than 100,000 people.
As far as is known, the The new regulations will take effect from February and will allow the CNMV to specifically monitor advertising for all types of crypto-assets and cryptocurrencies and to give warnings about risks involved in investments.
The rules apply to everyone, from individuals to, say, influencers with more than 100,000 followers. To advertise and promote crypto assets, they will have to notify the regulator in advance of promotional posts and warning of risks.
In Portugal, there are still no rules regarding advertising of cryptocurrency platforms.
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