As part of regulations that are set to become effective in mid-February, crypto-asset investment promoters will be required to inform the Spanish securities watchdog of the contents of any ad that targets over 100,000 people.
10-Day Advance Notice Rule
The Spanish government has tasked the country’s securities watchdog with authorizing advertisements that promote cryptocurrencies, a report has said. Also, as part of the new measures, crypto-asset investment promoters will be required to notify the Comisión Nacional del Mercado de Valores (CNMV) of any promotional campaign that targets more than 100,000 people some ten days before such a campaign commences.
According to a report, these regulations, which are set to become effective in mid-February, will enable the CNMV to monitor all types of crypto-related advertisements. The regulations will also enable the watchdog to include warnings of risks associated with investing in certain crypto assets.
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