Belgian financial authority (FSMA) decided to regulate Crypto ads

Acc. to the new rule announced by the Belgian Financial Regulatory Authority Financial Services and Markets Authority (FSMA) yesterday. The crypto ads would be regulated and there will be some rules and regulations for promoting this virtual currency in the country. As per official Gazette Any Mass Media campaign to promote a digital currency would have to be submitted 10 days in advance. The Regulatory Authority will intervene into it if needed. The new rules, will implement on May 17 of this FY. FSMA said in a statement without directly targeting cryptocurrency “ Virtual currencies involve considerable risk.”

On may, FSMA will be able to check whether advertisements for cryptocurrency are accurate. Whether the advertisements contain the mandatory warnings of risk and not misleading the consumers. A former minister of Belgium Johan Van recently called a total ban on cryptocurrencies . Also in last FY Governor of Reserve Bank of India , Shaktikanta Das had also demanded to put ban on this virtual currency. Cryptocurrency is digital currency. Bitcoin (BTC) and Ethereum (ETH) are the highly popular Cryptocurrency.

Though this virtual currency has been popular among People from last years but there is high risk involve in it . As the fact, it is an unregulated currency. So the users must have been much aware while using it. In 2022, due to the bankruptcy OF FTX, the largest company related to Cryptocurrency. This currency made a lot of headlines.

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