Spanish regulator signals potential X probe on crypto ads

The National Stock Market Commission (CNMV), Spain’s principal financial regulator, called out the fraudulent crypto assets promos on X (formerly Twitter) and reiterated the obligation of companies to comply with local laws. 

On Nov. 8, in a speech at the Deloitte annual conference for the Spanish financial sector in Madrid, the CNMV head, Rodrigo Valbuena, revealed that the ads in question “make illegal use of the image of some Spanish actors and the design and identity of a national media to try to obtain data and money from investors.”

Valbuena reminded the audience that Spanish legislation holds “internet companies, media and social networks” responsible for taking measures…

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