Spanish regulators set precedent with crypto ad violations case

The principal financial regulator in Spain, the National Securities Market Commission (CNMV), has opened the first case on violating crypto promotion rules in the country. 

As reported in the press release from Nov. 8, CNMV initiated “sanctioning proceedings” against Miolos S.L for two “massive” advertisement companies in September and November 2022.

The Commission accuses Miolos of non-compliance with the cryptocurrency regulations established by the CNMV circular from January 2022. Specifically, the company didn’t put any risk warnings and didn’t submit its campaigns for the CNMV’s authorization. The circular obliges companies to provide promo materials for a check at…

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