The crypto regulatory landscape in Belgium is rapidly changing with the adoption of the new MiCA rules on April 20. To ensure enhanced supervision, the Belgian Financial Supervisory Authority (FSMA) now closely monitors advertisements related to cryptocurrencies. Learn about the latest crypto regulatory developments in Belgium as well as the implications for the cryptocurrency industry in general.
A new crypto regulation in Belgium focused on ads
The announcement of new crypto regulations in Belgium comes after the European Union passed MiCA legislation on April 20. According to the Financial Services and Markets Authority or FSMA, the new rules relate to crypto advertisements. They aim to strengthen oversight and protect investors against potential risks associated with crypto-ads.
According the statement of the FSMA, crypto advertisements must:
- be clear,
- be transparent,
- be free of false or misleading information.
In accordance with this new crypto regulation in Belgium, crypto advertisements must also indicate the risks associated with crypto investments. Concretely, the announcement will include clear warnings on:
- the volatile nature of digital assets,
- their lack of guarantees,
- legal mechanisms to prevent market manipulation or insider trading
Another important point to remember about this new crypto regulation in Belgium: crypto companies must inform the FSMA 10 days before the publication of the advertisement. This rule applies to all distribution media (posters, website, social networks, etc.). They must also present the legal authorizations necessary to operate in Belgium.
What this means for Belgian crypto companies
Advertisers will need to review their advertising campaigns and ensure that they comply with the new crypto regulations in Belgium. Otherwise, they face serious penalties ranging from fines to suspension of advertisements. They can not only lead to significant financial costs, but also damage the reputation of advertisers and crypto companies.
The new crypto regulations in Belgium also require crypto companies to keep the advertising media broadcast for at least 1 year. The same applies to the agreements as well as to the platforms on which the advertisements were posted.
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