The Spanish financial regulator (CNMV) has announced new regulations for advertising crypto-asset investments.
According to the new circular that will take effect on February 17, 2022, cryptocurrency announcements must be clear, balanced and fair, with adequate information provided about the risks involved in investing in Cryptocurrencies.
According to Coin Telegraph, the new rules also require advertisers targeting 100,000 or more people to notify the regulator 10 days in advance. After the initial report, the remaining advertising activities will be overseen by the CNMV, but will not require advanced reporting.
The CNMV has also clarified that influencers are covered by the new advertising regulations. The rules apply to cryptocurrency service providers that display ads on their own or through third-party ad providers such as crypto influencers.
Aside from these rules, the CNMV also requires that cryptocurrency ads include an excerpt to inform the public that crypto investments are not regulated with a warning that the entire invested amount may be lost . Finally, ads should also provide links to more information.
While the regulator targets advertising, the issuance of other crypto-related assets and services is not covered by the new rules.
