Regulatory Alerts2025-10-06
Added · Updated
Circular on the Position of the Comision Nacional Del Mercado del Valores’ (“CNMV”) regarding the Advertisement of Crypto Assets by Crypto Asset Service Providers (“CASPs”) in Spain
The Malta Financial Services Authority notifies Crypto Asset Service Providers targeting Spanish clients of the CNMV's regulatory stance on crypto-asset advertising under MiCA and Spanish law. The CNMV mandates that marketing activities constitute service provision, meaning only authorized entities can engage in client acquisition, while collaborations with non-authorized parties are restricted to pure advertising without client interaction or performance-based remuneration. Consequently, CASPs are required to review and amend their marketing policies and procedures to ensure strict compliance with these authorization and remuneration criteria.