Belgium has passed new laws concerning crypto ads in mass media, requiring these ads to be accurate and warn investors about the potential risks.
The new rules will come into force on May 17.
Under the new laws, the companies will have to submit any campaign promoting digital currencies in mass media to the Financial Services and Markets Authority (FSMA), the country’s financial regulator, 10 days before publishing.
- The regulator will be able to interfere in the campaign if necessary.
- The regulation will also mandate crypto ads to contain the warning that the only guarantee in crypto is risk.
- FSMA believes people show massive interest in virtual currencies due to the chance to make money quickly, though these assets involve considerable risks.
Several other European countries, including Spain and the U.K., also have restrictions on crypto-related ads in mass media.
