Belgium to review all cryptocurrency advertising
In order to avoid risks to investors without knowledge about cryptocurrencies in Belgium, all advertising about these assets must be supervised by the Financial Services and Markets Authority
The risks that cryptocurrency transactions entail for those who do not have information about this market have led Belgium to join the supervision of all publicity on the subject.
The measure was taken a week ago and announced in a statement, stating that the Financial Services and Markets Authority will be the entity in charge of executing the order.
It means that any advertising or campaign aimed at inviting people and investing in cryptocurrencies must first be referred to the Financial Services and Markets Authority. In a period of ten days the result would be announced, which could be the intervention of said advertising.
The main reason for this measure is the security of those who seek to invest in cryptocurrencies but do not have sufficient knowledge about the risks of this market, which makes them potential victims of crimes related to these assets.
Regulators from the Financial Services and Markets Authority will study aspects of advertising such as the proper presentation of the risks involved in investing in cryptocurrencies.
With information from cryptocurrency specialized media
(Reference image source: Henri Buenen, Unsplash)
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