The CNMV will require advertisers to report ten days before running ads targeting 100,000 people or more.
Spanish financial regulator Comisión Nacional del Mercado de Valores, or CNMV, announced new regulations for crypto-asset investments advertising. According to the new circular that will take effect on February 17, 2022, crypto ads must be “clear, balanced and fair” while also providing sufficient information on the risks involved when investing in crypto.The new rules also require advertisers targeting 100,000 people or more to inform the regulator 10 days in advance. After the initial report, the remaining ad activities will be supervised by the CNMV, but will not require advanced reporting. The CNMV also made it clear that influencers are covered by the new advertising regulations. The rules apply to crypto service providers running ads on their own or through third-party ad providers like crypto influencers.
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