{"id":17572,"date":"2025-02-05T16:12:20","date_gmt":"2025-02-05T16:12:20","guid":{"rendered":"https:\/\/letslaw.es\/novedades-publicidad-criptoactivos\/"},"modified":"2025-02-05T16:20:05","modified_gmt":"2025-02-05T16:20:05","slug":"developments-cryptoasset-advertising","status":"publish","type":"post","link":"https:\/\/letslaw.es\/en\/developments-cryptoasset-advertising\/","title":{"rendered":"New developments in cryptoasset advertising"},"content":{"rendered":"

Cryptoasset advertising has undergone significant changes in recent years, with the aim of <\/span>protecting investors and ensuring greater transparency in this emerging market<\/b>. The National Securities Market Commission (CNMV) has played a crucial role in regulating these advertising campaigns, establishing clear guidelines on the information to be provided to consumers.\u00a0<\/span><\/p>\n

These modifications seek to balance and limit the promotion of cryptoassets with the need to avoid misleading advertising and excessive risks for investors.<\/span><\/p>\n

Implementation of the MiCA regulation<\/span><\/h2>\n

Regulation (EU) 2023\/1114, known as MiCA (Markets in Crypto-Assets), introduces a regulatory framework for cryptoasset markets in the European Union. This regulation has a significant impact on crypto-asset advertising.<\/span><\/p>\n

Among the most significant new features, the following stand out:<\/span><\/p>\n

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  • Cryptoasset advertising must be clear, fair and not misleading<\/b>. The information provided must be accurate and balanced, presenting both the benefits and risks associated with investing in cryptoassets.<\/span><\/li>\n
  • Advertising must clearly identify the entity responsible for offering cryptoassets<\/b> or providing related services.<\/span><\/li>\n
  • It is mandatory to include clear and prominent warnings about the risks<\/b> of investing in cryptoassets, including the possibility of total loss of the invested capital.<\/span><\/li>\n
  • The regulation prohibits advertising that may mislead investors<\/b>, including exaggerated claims about the profitability or safety of cryptoassets.<\/span><\/li>\n
  • The competent national authorities will monitor compliance with these advertising rules and may impose sanctions in case of non-compliance.<\/span><\/li>\n
  • MiCA applies to all cryptoasset service providers operating in the EU<\/b>, regardless of their physical location.<\/span><\/li>\n<\/ul>\n

    Repeal of Circular 1\/2022<\/span><\/h2>\n

    Circular 1\/2022 established a series of <\/span>general criteria and principles to be complied<\/b> with by cryptoasset advertising campaigns, including:<\/span><\/p>\n

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    • Advertising had to be clear, balanced and not misleading.<\/span><\/li>\n
    • It was mandatory to include warnings about the risks of investing in cryptoassets.<\/span><\/li>\n
    • Advertising had to clearly identify the responsible entity.<\/span><\/li>\n
    • Any advertising that could mislead investors was prohibited.<\/span><\/li>\n<\/ul>\n

      However, Circular 1\/2022 was repealed mainly due to the need to adapt Spanish regulations to the new European regulatory framework established by <\/span>Regulation (EU) 2023\/1114 (MiCA)<\/b>, relating to cryptoasset markets.<\/span><\/p>\n

      New Circular 1\/2024<\/span><\/h2>\n

      The main purpose of Circular 1\/2024, dated December 17, issued by the National Securities Market Commission (CNMV), is to repeal Circular 1\/2022, dated January 10, which regulated the advertising of crypto-assets presented as investment objects. Unlike Circular 1\/2022, Circular 1\/2024 does not establish a new detailed regulatory framework on the advertising of crypto-assets, but <\/span>its main function is to eliminate the previous regulation to give way to the direct application of the MiCA Regulation<\/b>.<\/span><\/p>\n

      In this regard, the CNMV considers that Circular 1\/2022 is no longer necessary, as the MiCA Regulation regulates in a more complete and detailed manner the advertising of cryptoassets.<\/span><\/p>\n

      Accordingly, cryptoasset service providers and issuers must now comply with the advertising provisions of the MiCA Regulation.<\/span><\/p>\n

      Contact Us<\/h2>\n
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