Spain Sets New Rules for Influencers Promoting Cryptocurrency
Influencers need to disclose if they receive payment for talking up cryptocurrencies. If that’s the case, they’ll need to provide clear and impartial warnings about the risks of crypto, including the fact that investments aren’t regulated. The rules also cover companies that promote crypto assets, as well as PR companies they hire. See Also: Waqar Zaka Calls for Dharna at D-Chowk Following Govt’s ban on Cryptocurrency Trading CNMV chief Rodrigo Buenaventura said, It is for the first time a European Union country has announced such directives. EU members have yet to agree on how to regulate crypto across the bloc. Some influencers who have plugged crypto-assets and related products have found themselves in hot water. In July, French authorities fined a reality TV star €20,000 ($22,800) for “misleading commercial practices” over a Bitcoin trading site ad on Snapchat. Kim Kardashian and Floyd Mayweather were this months named as defendants in a class-action lawsuit that accuses them of taking part in a “pump and dump” scheme. Check Also: PTA to Block Cryptocurrency Portals to Avoid Potential Frauds Source: Engadget
