Belgium's financial regulator has announced new laws requiring that any advertisement related to cryptocurrency must be truthful and include a warning about the associated risks. The regulations require that any mass media campaign promoting digital currency must be submitted to the Financial Services and Markets Authority (FSMA) ten days prior to its release.
The new rules will be effective from May 17th and will require ads to state that "the only guarantee in crypto is risk." Belgium follows in the footsteps of other European countries, including Spain and the U.K., in imposing restrictions on cryptocurrency publicity campaigns that reflect those already in place for traditional finance.