Spanish regulators are cracking down on violations of crypto advertising regulations and are investigating a technology provider, Miolos S.L., for conducting extensive crypto advertising campaigns without including risk warnings or seeking authorization. The National Securities Market Commission (CNMV) is conducting the investigation, which is the first case of non-compliance with regulations regarding crypto asset advertising. The CNMV also mentioned that they are analyzing advertisements on the social media platform X for possible infringements. The regulators emphasized that social media platforms should verify the authorization of advertisers before allowing their ads. Spain implemented measures in 2022 to regulate crypto asset advertising and assigned the CNMV the responsibility of approving mass campaigns and informing investors about associated risks. The new regulations also apply to individuals advertising on their own behalf or on behalf of third parties.
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