{"id":24960,"date":"2023-11-13T12:43:17","date_gmt":"2023-11-13T12:43:17","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/spanish-regulator-signals-potential-x-probe-on-crypto-ads\/"},"modified":"2023-11-13T12:43:19","modified_gmt":"2023-11-13T12:43:19","slug":"spanish-regulator-signals-potential-x-probe-on-crypto-ads","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/spanish-regulator-signals-potential-x-probe-on-crypto-ads\/","title":{"rendered":"Spanish regulator signals potential X probe on crypto ads"},"content":{"rendered":"<p><\/p>\n<div data-v-8081b7b6=\"\">\n<p>The National Stock Market Commission (CNMV), Spain\u2019s principal financial regulator, called out the fraudulent crypto assets promos on X (formerly Twitter) and reiterated the obligation of companies to comply with local laws.\u00a0<\/p>\n<p>On Nov. 8, in a\u00a0speech at the Deloitte annual conference for the Spanish financial sector in Madrid, the CNMV head, Rodrigo Valbuena, revealed that the ads in question \u201cmake illegal use of the image of some Spanish actors and the design and identity of a national media to try to obtain data and money from investors.\u201d<\/p>\n<p>Valbuena reminded the audience that Spanish legislation holds \u201cinternet companies, media and social networks\u201d responsible for taking measures against investment promotions by unlicensed entities and suggests sanctioning the non-compliance. He also promised that his agency would take this case seriously: <\/p>\n<h3>\u201cI can assure you that we will scrupulously exercise all our capacities, supervisory powers and our supervisory and sanctioning powers in these cases.\u201d<\/h3>\n<p>The regulator also warned that the CNMV is \u201cpreparing for the new tasks\u201d and will soon be strengthening its human resources, increasing its staff by 15%.\u00a0<\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>Survey: 65% of Spaniards aren\u2019t interested in using digital euro<\/em><\/strong><\/p>\n<p>Last week, the CNMV opened its first case against a technology provider for violating crypto promotion rules in the country. It has initiated \u201csanctioning proceedings\u201d against Miolos for two \u201cmassive\u201d advertisement companies in September and November 2022. The company failed to include risk warnings or submit its campaigns for the CNMV\u2019s authorization.<\/p>\n<p>Spain has said it intends to implement the first comprehensive European Union crypto framework \u2014 the Markets in Crypto-Assets Regulation (MiCA) \u2014 even earlier than the July 2026 deadline for EU member states to provide legal certainty and investor protection.<\/p>\n<p><strong><em><u>Magazine: <\/u><\/em><\/strong><strong><em>2 years after John McAfee\u2019s death, widow Janice is broke and needs answers<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The National Stock Market Commission (CNMV), Spain\u2019s principal financial regulator, called out the fraudulent crypto assets promos on X (formerly Twitter) and reiterated the obligation of companies to comply with local laws.\u00a0 On Nov. 8, in a\u00a0speech at the Deloitte annual conference for the Spanish financial sector in Madrid, the CNMV head, Rodrigo Valbuena, revealed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-24960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spanish regulator signals potential X probe on crypto ads | NFT &amp; 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