Spain’s CNMV Disciplines Miolos S.L. for Crypto Ad Rule Breach!

Spain’s financial watchdog, CNMV, has launched disciplinary proceedings against technology provider Miolos S.L. for failing to comply with advertising regulations for crypto assets. The watchdog introduced rules earlier this year that require campaigns promoting crypto assets to over 100,000 people to be pre-authorized and to transparently present the risks associated with investing in crypto. The inquiry will determine whether Miolos S.L. bypassed the necessary pre-notification process and failed to provide adequate risk information. The CNMV is also scrutinizing various social media advertisements for potential regulatory breaches.