Spain places regulations on ads pertaining to cryptos, outlines penalties too - Aliens: AI Crypto News & Markets Updates
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Spain places regulations on ads pertaining to cryptos, outlines penalties too

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AMB Crypto

Tue, Jan 18, 2022

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According to the story by The Guardian , the surge in crypto ads in the UK caused concerns regarding the risk of addiction and financial harm.

Spanish regulators CNMV has put restrictions on so-called influencers’ promotion of cryptocurrencies.

As per this, ads promoting the same must now include the following disclaimer : “Investments in crypto-assets are not regulated.

They may not be appropriate for retail investors and the full amount invested may be lost.” Thereby establishing rules, principles and criteria concerning crypto-related promotion.

According to the rules, the CNMV will require people and companies to notify it at least 10 days before running campaigns for crypto assets.

Not so long ago, soccer star Andrés Iniesta’s promotion of crypto exchange Binance too was highlighted by the authorities.

In addition to this, major billion-dollar companies too have released their own set of narratives to curb these crypto ads.

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