Belgian Regulator: Advertising of Digital Assets Must Be Accurate and Not Misleading
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March 21, 2023

According to Belgium's Financial Services and Markets Authority (FSMA), advertising of digital assets in the country "must be accurate" and not misleading, and ads must contain information about risks.

The regulator has received authority to regulate cryptocurrency advertising and has published the relevant rules, which will come into force next May 17, 2023.

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The rules require FSMA to be notified of marketing campaigns at least 10 days in advance and set out the conditions that advertising must meet. In particular, advertisements must be written in "understandable language" and contain a disclaimer.

According to the document:

"Some consumers want to earn money quickly by trading in virtual currencies. This goes hand in hand with great risks. Thanks to the new Regulation, the FSMA will be able to check whether advertisements for virtual currencies are accurate and not misleading."

The regulator introduced in May last year mandatory registration of cryptocurrency exchanges and custodial wallet operators.

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