Belgium to Introduce New Crypto Ad Regulations – Protecting Investors

• Belgium’s Financial Services and Markets Authority (FSMA) is introducing a new set of crypto ad regulations by May 17.
• Companies sponsoring crypto advertisements in Belgium must submit to its financial regulator FSMA before any campaign.
• A recent FSMA market research showed that most crypto investors in the country are in it for the money, and 80% are men.

Belgium to Introduce New Crypto Ad Regulation

Belgium’s Financial Services and Markets Authority (FSMA) is set to introduce a new set of crypto ad regulations by May 17, Finance Magnates reported on March 20.

Risk Information Required

The Official Gazette published on March 17 showed that the crypto ad must be accurate and contain mandatory risk information. The companies sponsoring the advert must submit it to FSMA before any mass campaign — this means that adverts targeting at least 25,000 customers must be submitted to the regulator.

Crypto Investment Trend

A recent FSMA market research showed that most crypto investors in the country are in it for the money, and 80% are men. The recent collapse of FTX and the inadvertent crypto market winter has not deterred investors.

Other Country Regulations

Belgium is the latest European country to introduce new crypto ads regulations. Other countries like the United Kingdom have also imposed restrictions on crypto ads.

Former Minister Calls for Ban

A former minister of the country Johan Van Overtveldt recently called for a total ban on cryptocurrencies amid the recent turmoil in the banking sector.