The rules about giving out digital currencies to people in Belgium will begin on May 17, 2023.
The Regulation requires companies to meet certain requirements when advertising virtual currencies. This includes making sure advertisements are accurate and not misleading. And including mandatory statements such as a brief warning that “Virtual currency, real risks.
The only guarantee in crypto is risk. Companies must also notify the Financial Services and Markets Authority (FSMA) of any advertisements they plan to use in a mass media campaign at least 10 days in advance.
As of 17 May, all ads about giving out virtual currencies to consumers must follow these rules, no matter what type of medium is used:
- Social media.
- Websites.
- Physical.
Ads that have been released before the Regulation took effect must meet the requirements of the Regulation by 17 June 2023. This transitional period applies to websites or mobile apps of service providers that have already been published by 17 May.
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