The National Stock Market Commission (CNMV), Spain\u2019s principal securities market regulator, called out fraudulent crypto assets promos on X (formerly Twitter) and reiterated the obligation of companies to comply with local laws.\u00a0<\/p>\n
On Nov. 8, in a\u00a0speech at the annual Deloitte conference for the Spanish financial sector in Madrid, the CNMV head, Rodrigo Valbuena, revealed that the ads in question \u201cmake illegal use of the image of some Spanish actors and the design and identity of a national media to try to obtain data and money from investors.\u201d<\/p>\n
Valbuena reminded the audience that Spanish legislation holds \u201cinternet companies, media and social networks\u201d responsible for taking measures against investment promotions by unlicensed entities and suggests sanctioning the noncompliance. He also promised that the agency would take this case seriously: <\/p>\n
\u201cI can assure you that we will scrupulously exercise all our capacities, supervisory powers and our supervisory and sanctioning powers in these cases.\u201d<\/p><\/blockquote>\n
The regulator also warned that the CNMV is \u201cpreparing for the new tasks\u201d and will soon be strengthening its human resources, increasing its staff by 15%.\u00a0<\/p>\n