In contrast to El Salvador’s optimistic forecasts of Bitcoin, Spain is moving towards regulation, especially with a view to protecting investor savings.
Starting next month, in fact, according to Reuters, will be asked to influencers who want to publish advertising content on crypto theme to notify their will and content with ten days in advance to the Comisión Nacional del Mercado de Valores In particular, this rule will apply to all social media professionals who have more than 100000 followers for sponsored content, i.e. for whom the content creator receives a fee.
In addition, all promotional campaigns involved in the new regulation will need to include explicit risk warnings on the cryptocurrencies market, to add an additional level of awareness in the user of content actively interested in the topic.
This is not the first time that CNMV has been involved in blockchain technology related matters. In fact, the Commission had recently used its social profiles to respond to the posts of faces known as Andrés Iniesta, stressing that “cryptocurrencies can pose a significant risk, not being regulated.”
A move that will surely make chatter, which took place a few weeks after the Bank of England’s statements on the international regulation of cryptocurrencies.