Spain will monitor cryptocurrency advertising
The local government is seeking to cover all the legal gaps that are related to this type of assets
The Government of Spain is working on a way to cover all the legal voids in cryptocurrencies, this is how the Extraordinary Council of Ministers approved a reform that will allow the National Securities Market Commission (NSMC) to monitor advertising on investment in digital assets.
As soon as the reform is applicable, the NSMC may authorize or ban any advertising on investment in crypto assets.
A capacity that will also be applicable for campaigns formulated from institutions that are not under the umbrella of their direct supervision, which includes the vast majority of bitcoin trading platforms and others that operate in Spain.
All this occurs at a time when Europe is waiting for a regulatory framework that defines all the rules related to cryptocurrencies in general. Brussels is currently negotiating a set of rules known by the acronym MiCa.
At the moment, the only regulation that had been formulated on crypto assets in Spain was on their taxation, a measure with which the Government hopes to avoid fraud and collect about 40 million euros.
K. Tovar
Source: El Español
