"The Only Guarantee in Crypto Is Risk:" Belgium to Mandate Warnings on Ads

Belgian financial market supervisor will impose a new set of rules on the promotion of cryptocurrencies within its jurisdiction.

Highlights

Belgian financial market supervisor, the Financial Services and Markets Authority, will impose a new set of rules on the promotion of cryptocurrencies within its jurisdiction.
The new regulations will come into effect on 17 May 2023.
The message must be accurate and not misleading, ads must contain mandatory risk information, and crypto companies must inform FSMA ahead of any mass campaign.
The regulatory move came after a survey that quizzed 1000 investors in November 2022.
The FSMA conducted market research with IPSOS, which found that 80 percent of crypto investors are men.
The foreign minister of Belgium recently called for a cryptocurrency ban, calling it a “speculative poison with no economic or social added value”

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