Spain will regulate influencers selling cryptocurrency

Illustration by James Bareham / The Verge

Spain has introduced new guidelines for the way social media influencers and others can promote cryptocurrency property, Reuters stories. Beginning subsequent month, the Spanish Nationwide Securities Market Fee (CNMV) would require individuals and firms to inform it at the least 10 days earlier than operating campaigns for crypto property. The foundations apply to influencers with greater than 100,000 subscribers who’re paid to advertise cryptocurrency — a apply that’s drawn criticism and even lawsuits worldwide.

In line with Reuters, crypto advertisers might want to launch the content material of their upcoming campaigns to the CNMV, they usually should embody warnings in regards to the dangers of what they’re promoting. The foundations are designed to let the CNMV monitor the advertising ecosystem…

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