The Spanish stock exchange regulator has developed rules for the promotion of virtual currencies on the Internet. According to the FT, they will take effect next month.

The Spanish stock exchange regulator has developed rules for the promotion of virtual currencies on the Internet. According to the FT, they will take effect next month.
Photo by John McArthur / Unsplash

According to the document, each post paid by advertisers about the digital currency bloggers will be required to mark in a special way. In addition, the text of the advertisement must necessarily contain a warning about the investment risks. Subscribers to bloggers should know that they can lose their money investing in cryptocurrency.

The rules will apply to Influencers with more than 100 thousand people subscribed to their accounts, PR-agencies and cryptocurrency startups. They will be obliged to inform the stock exchange regulator about advertisements of digital currencies 10 days before the publication.

In the fall of last year, the Twitter account of Spanish footballer A. Iniesta posted advertisements for the cryptocurrency exchange Binance. The regulator accused the athlete of failing to warn his subscribers about investment risks.

It is worth noting that there are no uniform rules for the promotion of digital assets in the European Union yet. Last summer, French authorities imposed a fine of EUR 20,000 on the blogger. He was accused of publishing "misleading" advertisements on Snapchat for a web resource trading in bitcoins.