Spain sets new rules for influencers who promote cryptocurrency
. Influencers and other advertisers with more than 100,000 followers in the country must notify the National Securities Market Commission at least 10 days before plugging crypto assets. They'll face fines of up to €300,000 for breaching the rules, which come into force on February 17th.
“If influencers weren’t covered there would be a backdoor to avoid regulation," CNMV chief Rodrigo Buenaventura told the."This is new terrain, for us and for them, and there will be moments of friction but that always happens when you bring in rules for something that wasn’t regulated before.”
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