Belgium’s Financial Services and Markets Authority (FSMA) is set to introduce a new set of crypto ad regulations by May 17, Finance Magnates reported on March 20.
Belgium’s Official Gazette published on March 17 showed that the crypto ad must be accurate and contain mandatory risk information. The companies sponsoring the advert must submit it to FSMA before any mass campaign — this means that adverts targeting at least 25,000 customers must be submitted to the regulator.
FSMA’s chairman Jean-Paul Servais reportedly said:
“Kako bi bolje zaštitio potrošače, FSMA ubrzava tempo kada je u pitanju nadzor i financijska edukacija. Zahvaljujući novoj uredbi, FSMA će moći provjeriti da li su reklame za virtuelne valute tačne i da ne dovode u zabludu i da li oglasi sadrže obavezna upozorenja o riziku.”
Nedavno FSMA istraživanje tržišta pokazalo je da većina kripto investitora u zemlji radi novac, a 80% su muškarci. Nedavni kolaps FTX-a i nenamjerna zima na kripto tržištu nisu odvratili investitore.
Belgium is the latest European country to introduce new crypto ads regulations. Other countries like the United Kingdom have also imposed restrictions on crypto ads.
A former minister of the country Johan Van Overtveldt recently called for a total ban on cryptocurrencies amid the recent turmoil in the banking sector.
Source: https://cryptoslate.com/belgium-to-introduce-new-crypto-ad-regulation/