Suggesting Finance
No Result
View All Result
  • Login
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto
Subscribe For Alerts
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto
No Result
View All Result
Suggesting Finance
No Result
View All Result
Home Crypto

Spanish Regulators Crack Down on Crypto Ad Violations

News Room by News Room
November 13, 2023
Reading Time: 2 mins read
0
Spanish Regulators Crack Down on Crypto Ad Violations
Source: Pixabay

Spain’s securities market regulatory body said it had begun investigating its inaugural case pertaining to a potential violation of regulations governing large-scale advertising campaigns for crypto assets.

The National Securities Market Commission (CNMV) announced on Wednesday last week that Spanish technology provider Miolos S.L. was being investigated in response to two of its extensive crypto advertising campaigns conducted in September and November 2022.

The CNMV alleges that Miolos S.L. failed to include risk warnings or submit its advertising campaigns to the CNMV for authorization. Spanish laws require advertisers and companies involved in marketing crypto assets to provide the CNMV with advance notice of the campaign content at least 10 days prior if the campaign targets over 100,000 people.

“This is the first sanctioning proceeding to be opened for non-compliance with the circular regulating the advertising of crypto assets,” said Rodrigo Buenaventura, chairman of the CNMV, in his speech at the annual Deloitte conference for the Spanish financial sector in Madrid last Wednesday.

Buenaventura added that the investigation would serve as a reminder for companies to obey the new regulations surrounding crypto advertising.

The regulatory body also mentioned that it was conducting a separate analysis of advertisements featured on the social media platform X, formerly known as Twitter, to look for possible infringements.

“In recent days we have detected advertisements on the social network X (formerly Twitter) promoted by an unauthorized entity,” Buenaventura said, emphasizing that social media platforms are obligated to verify whether advertisers are included in an authorized list before allowing their ads.

Buenaventura said that the ads they were investigating on X “make illegal use of the image of some Spanish actors and the design and identity of a national media to try to obtain data and money from investors.”

Spain implemented measures to regulate the widespread advertising of crypto assets at the beginning of 2022, assigning the CNMV watchdog the responsibility of approving mass campaigns and ensuring investors are informed about associated risks.

The new regulations were enacted in mid-February of the previous year, granting the CNMV the authority to closely oversee advertising for all types of crypto assets and incorporate risk warnings. These rules are applicable not only to crypto asset service providers advertising their activities but also to individuals advertising on their own behalf or on behalf of third parties.

 


Enter your email for our Free Daily Newsletter

A quick 3min read about today’s crypto news!

Read the full article here

ShareTweetSendSend

Related Posts

'Fundamental Shift' in Traditional Bitcoin Market Cycle May Be on the Horizon
Crypto

'Fundamental Shift' in Traditional Bitcoin Market Cycle May Be on the Horizon

October 3, 2024
FTX/Alameda Unstakes Over $1B in Solana – Is a Major Price Shift Coming?
Crypto

FTX/Alameda Unstakes Over $1B in Solana – Is a Major Price Shift Coming?

September 15, 2024
Man Utd launch Player Trading Cards digital collectibles and Fantasy United game | 31 July 2024
Crypto

Man Utd launch Player Trading Cards digital collectibles and Fantasy United game | 31 July 2024

August 1, 2024
Trader Turns $462 into $3.4 Million Thanks to PEPE
Crypto

Trader Turns $462 into $3.4 Million Thanks to PEPE

May 30, 2024
Polygon Executive Pivots Roles To Developing ZK Proof Tech
Crypto

Polygon Executive Pivots Roles To Developing ZK Proof Tech

May 29, 2024
Altcoin Interest Driving South Korean Crypto Craze – Report
Crypto

Altcoin Interest Driving South Korean Crypto Craze – Report

May 28, 2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Suggesting Finance

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Visit our landing page to see all features & demos.

LEARN MORE »

Recent Posts

  • Wall Street banks race to win Trump admin's favor for massive Fannie Mae, Freddie Mac IPO deal
  • Blue states plan new tax hikes on wealthy residents in response to Trump's federal tax legislation
  • Goldman Sachs constructs 14-floor Texas campus with fitness center and childcare facilities

Categories

  • Banking
  • Business
  • Credit Cards
  • Crypto
  • Economy
  • Finance
  • Investing
  • Loans
  • Markets
  • Mortgage
  • Real Estate
  • Saving
  • Taxes
  • Uncategorized
  • Privacy Policy
  • Terms of use
  • Advertise
  • Contact

© 2023 Suggesting Finance. All Rights Reserved.

No Result
View All Result
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto

© 2023 Suggesting Finance. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.