This week, several countries began tightening their rules around crypto promotions. Let’s take a closer look:
- On Monday, Singapore’ Monetary Authority moved to rein in ads, advising that service providers should only market their wares on their own websites, apps, or social media, and in doing so should not trivialize the risks of investing in digital assets.
- Also on Monday, Spain’s Comisión Nacional del Mercado de Valores (CNMV) issued a release defining new disclaimer rules on posts promoting crypto assets… and new rules for so-called influences or outlets with more than 100k followers.
- Then today, UK’s Financial Conduct Authority (FCA) also proposed restrictions on the marketing of certain crypto assets. The rules essentially bar firms from promoting crypto products to users without assessing their financial knowledge and experience.
Meanwhile… here in the wild west, Youtube just banned the reputable Bitcoin Magazine for no apparent reason while professional shillers remain at large. 🤷