Loading...

Belgium’s financial regulator announces new rules for crypto ads

Belgium's Financial Regulator Announces New Rules for Crypto Ads

Contents

Share link:

TL;DR

  • Crypto ads in Belgium must now adhere to new laws announced by the country’s financial regulator, the Financial Services and Markets Authority (FSMA), on Monday.
  • All mass-media campaigns to promote digital currencies are required to be submitted ten days ahead of distribution, according to the new law.

Crypto ads in Belgium must now adhere to new laws announced by the country’s financial regulator, the Financial Services and Markets Authority (FSMA), on Monday. As outlined in powers published in Friday’s edition of Belgium’s Official Gazette, all mass-media campaigns to promote digital currencies are required to be submitted ten days ahead of distribution, allowing the FSMA to intervene if necessary. In addition, the regulator warned investors of the potential risks associated with these assets, highlighting their “considerable risk” due to “wild price fluctuations” and “vulnerability to fraud and IT-related risks.”

The FSMA study found that the potential to make money quickly was cited as the primary motivation behind trading in virtual currencies, despite the crypto winter or collapse of crypto exchange FTX. To protect investors from misleading advertising, Belgium is implementing new rules on May 17th, which require ads to state that “the only guarantee in crypto is risk.” This follows in the footsteps of other European nations like Spain and the U.K., who have already instituted similar regulations for traditional finance.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Charles Hoskinson debunks FUD, confirms active development of Cardano Hydra
Cryptopolitan
Subscribe to CryptoPolitan