Spain has introduced tough new rules surrounding crypto ads and promotions 🇪🇸 Influencers who are paid for promoting projects will be particularly affected 👀
Spain is introducing tough new measures surrounding crypto advertisements.
Under the measures, advertisers will need to provide "clear, balanced, impartial and non-deceptive content" on the risks involved with investing in digital assets — along with a disclaimer that the industry isn't regulated, may be unsuitable for everyday investors, and that they could lose all their money.
In an interesting development, the National Securities Market Commission also says that anyone planning to launch a mass advertising campaign targeting at leastCrypto exchanges will fall under the toughened rules unveiled on Monday, alongside influencers who are being paid for their posts. The regulations are going to come into force on Feb. 17.
"Publications issued by independent analysts or commentators that are not sponsored or promoted" are going to be exempt from these new rules. However, promotions related to crypto trading, buying specific coins, investment advice, portfolio management or earning an income using cryptocurrencies falls under the guidance.
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