{"id":395786,"date":"2022-01-18T20:58:46","date_gmt":"2022-01-18T17:58:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/spain-starts-cracking-down-on-crypto-ads\/"},"modified":"2022-01-18T20:58:46","modified_gmt":"2022-01-18T17:58:46","slug":"spain-starts-cracking-down-on-crypto-ads","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/spain-starts-cracking-down-on-crypto-ads\/","title":{"rendered":"#Spain starts cracking down on crypto ads"},"content":{"rendered":"<p>&#8220;<strong>#Spain starts cracking down on crypto ads<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Regulators in Spain are tightening the rules on how <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> influencers and others can advertise for cryptocurrency.<\/p>\n<p>The government in Madrid said it would require \u201cinfluencers\u201d with more than 100,000 followers on social media to give at least a 10-day notice in advance before posting messages urging people to invest in any digital coins.<\/p>\n<p>Crypto advertisers must show the content of their messages to the Spanish National Securities Market Commission (CNMV), which is Spain\u2019s equivalent to the US Securities and Exchange Commission, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/spain-moves-rein-crypto-asset-advertising-2022-01-17\/\">according to Reuters<\/a>.<\/p>\n<p>Anyone promoting cryptocurrencies must also include a disclaimer warning their followers of the potential risk in investing, as per the new regulations.<\/p>\n<p>In November, the CNMV used its official Twitter account to post a note of caution in response to soccer star Andr\u00e9s Iniesta.<\/p>\n<p>Iniesta, a former player with national powerhouse FC Barcelona, told his 25 million followers that he started trading in cryptocurrency using the Binance exchange.<\/p>\n<p>But the CNMV replied to the tweet, saying that \u201ccryptoassets, being unregulated products, carry some significant risks.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"820\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_34-1.jpg?quality=90&amp;strip=all&amp;w=820\" alt=\"Soccer star Andr\u00e9s Iniesta warned his fans about crypto ads and &quot;cryptoassets.&quot;\" class=\"wp-image-20873437\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_34-1.jpg?quality=90&amp;strip=all&amp;w=1640 1640w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_34-1.jpg?quality=90&amp;strip=all&amp;w=1230 1230w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_34-1.jpg?quality=90&amp;strip=all&amp;w=820 820w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_34-1.jpg?quality=90&amp;strip=all&amp;w=410 410w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_34-1.jpg?quality=90&amp;strip=all 1024w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\"\/><figcaption>Soccer star Andr\u00e9s Iniesta warned his fans about crypto ads and \u201ccryptoassets.\u201d<\/figcaption><figcaption><span class=\"credit\">Twitter\/@andresiniesta8<\/span><\/figcaption><\/figure>\n<p>Celebrities with massive social media followings have promoted cryptocurrency. In some cases, that has led to lawsuits.<\/p>\n<p>Earlier this month, Kim Kardashian and boxer Floyd Mayweather were named in a lawsuit filed with Los Angeles federal court accusing them of misleading their fans into buying crypto as part of a \u201cpump and dump\u201d scheme.<\/p>\n<p>Kardashian and Mayweather were accused of making \u201cfalse or misleading statement\u201d while promoting a crypto token sold by EthereumMax, or EMAX.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"820\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_35-2.jpg?quality=90&amp;strip=all&amp;w=820\" alt=\"Andr\u00e9s Iniesta explains the potential dangers in a social media post.\" class=\"wp-image-20873451\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_35-2.jpg?quality=90&amp;strip=all&amp;w=1640 1640w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_35-2.jpg?quality=90&amp;strip=all&amp;w=1230 1230w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_35-2.jpg?quality=90&amp;strip=all&amp;w=820 820w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_35-2.jpg?quality=90&amp;strip=all&amp;w=410 410w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/@andresiniesta8_35-2.jpg?quality=90&amp;strip=all 1024w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\"\/><figcaption>Andr\u00e9s Iniesta explains the potential dangers in a social media post.<\/figcaption><figcaption><span class=\"credit\">Twitter\/@andresiniesta8<\/span><\/figcaption><\/figure>\n<p>Kardashian promoted an ad for EthereumMax last June on her Instagram account, when she had 250 million followers.<\/p>\n<p>\u201cAre you guys into crypto???? This is not financial advice but sharing what my friends told me about the ethereum max token!\u201d\u00a0Kardashian wrote.<\/p>\n<p>The posts by Kardashian and Mayweather helped catapult the value of EthereumMax by a whopping 1,300% before dipping to \u201can all-time low\u201d just a month afterward, it has been alleged.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/spain-crypto_30-1.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Cryptocurrency has yet to be regulated in many nations.\" class=\"wp-image-20873466\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/spain-crypto_30-1.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/spain-crypto_30-1.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/spain-crypto_30-1.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Cryptocurrency has yet to be regulated in many nations.<\/figcaption><figcaption><span class=\"credit\">Getty Images\/Westend61<\/span><\/figcaption><\/figure>\n<p>Those who purchased EthereumMax between May 14 and June 27 of last year were named as plaintiffs in the lawsuit.<\/p>\n<p>US officials are also trying to figure out how to regulate the global cryptocurrency market that is valued at north of $3 trillion. <\/p>\n<p>Top economic policymakers from some of the world\u2019s leading bodies, including the International Monetary Fund, have called for regulations of digital coins.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/01\/18\/spain-starts-cracking-down-on-crypto-ads\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Spain starts cracking down on crypto ads&#8221; Regulators in Spain are tightening the rules on how social media influencers and others can advertise for cryptocurrency. The government in Madrid said it would require \u201cinfluencers\u201d with more than 100,000 followers on social media to give at least a 10-day notice in advance before posting messages urging&#8230;<\/p>\n","protected":false},"author":1,"featured_media":395787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/01\/crypto-1.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,74898,124238,76127,14026],"class_list":["post-395786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-sec","tag-1-18-22","tag-cryptocurrency","tag-spain"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/395786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=395786"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/395786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/395787"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=395786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=395786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=395786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}