autotldr@lemmings.world
on 08 Nov 2023 15:05
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This is the best summary I could come up with:
MADRID, Nov 8 (Reuters) - Spain’s stock market supervisor said on Wednesday it had opened its first case relating to a possible infringement of recent rules governing mass advertising campaigns for cryptoassets.
The supervisor also said separately that it was analysing some advertisements carried on social media platform X, formerly known as Twitter, which was taken private by Elon Musk, for potential infringements.
Madrid took steps to regulate the rampant advertising of cryptoassets at the start of 2022, tasking the CNMV watchdog with authorising mass campaigns and making sure investors are aware of the risks involved.
“This is the first sanctioning proceeding to be opened for non-compliance with the circular regulating the advertising of cryptoassets,” Rodrigo Buenaventura, the supervisor’s head, told a financial event on Wednesday.
The rapid growth of crypto and digital assets pegged to traditional currencies has drawn attention from regulators worldwide, who fear they could put the financial system at risk.
The new regulations came into effect in mid-February last year and allowed the CNMV to specifically monitor advertising for all cryptoasset types and to include warnings about risks.
The original article contains 395 words, the summary contains 182 words. Saved 54%. I’m a bot and I’m open source!
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This is the best summary I could come up with:
MADRID, Nov 8 (Reuters) - Spain’s stock market supervisor said on Wednesday it had opened its first case relating to a possible infringement of recent rules governing mass advertising campaigns for cryptoassets.
The supervisor also said separately that it was analysing some advertisements carried on social media platform X, formerly known as Twitter, which was taken private by Elon Musk, for potential infringements.
Madrid took steps to regulate the rampant advertising of cryptoassets at the start of 2022, tasking the CNMV watchdog with authorising mass campaigns and making sure investors are aware of the risks involved.
“This is the first sanctioning proceeding to be opened for non-compliance with the circular regulating the advertising of cryptoassets,” Rodrigo Buenaventura, the supervisor’s head, told a financial event on Wednesday.
The rapid growth of crypto and digital assets pegged to traditional currencies has drawn attention from regulators worldwide, who fear they could put the financial system at risk.
The new regulations came into effect in mid-February last year and allowed the CNMV to specifically monitor advertising for all cryptoasset types and to include warnings about risks.
The original article contains 395 words, the summary contains 182 words. Saved 54%. I’m a bot and I’m open source!