Cryptocurrency

Belgium to introduce new crypto ad regulation

Belgium’s Financial Services Market Authority (FSMA) is set to introduce a new set of cryptocurrency advertising regulations by May 17, Finance Magnates reported March 20.

The Belgian Gazette published on March 17 indicated that crypto ads must be accurate and contain mandatory risk information. You must submit it to FSMA before This means that ads targeting at least 25,000 customers must be submitted to regulators.

FSMA President Jean-Paul Servais said: Said:

“To better protect consumers, FSMA is stepping up its pace with regards to oversight and financial education. You will be able to see if your ads contain mandatory risk warnings.”

A recent FSMA market survey found that most cryptocurrency investors in the country invest for money, and 80% are men. The recent FTX crash and careless crypto market winter did not deter investors.

Belgium is the latest European country to introduce new crypto advertising regulations. Other countries like the UK have also imposed restrictions on crypto advertising.

Former Minister Johann van Oberthwelt recently called for a complete ban on cryptocurrencies amid the recent turmoil in the banking sector.

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