Spanish regulators launch first-ever crypto advertising probe against tech firm for breaching promotion rules

The National Securities Market Commission (CNMV) in Spain has launched its first-ever cryptocurrency advertising investigation against Miolos S.L. for two crypto-related campaigns that allegedly violated promotion rules. The CNMV claims that the campaigns failed to include warnings and relevant information about the risky nature of crypto assets and did not communicate with regulators before launching. The regulator is also investigating four other incidents related to similar breaches of crypto advertising. Firms must give the CNMV at least 10 days notice before advertising crypto assets to an audience exceeding 100,000 people.