Regulatory Alerts2023-03-20
Guide to Prior Notification of Virtual Currency Advertisements in Mass Media Campaigns
The Belgian Financial Services and Markets Authority (FSMA) mandates that entities must notify advertisements for virtual currencies to the regulator at least ten days prior to dissemination if the campaign targets at least 25,000 consumers. The notification must be submitted via email using a standardized form and include specific details regarding the advertiser's identity, campaign scope, and the exact content of the advertisement in an official Belgian language. While the FSMA reviews these submissions, silence does not constitute approval, and the authority retains the power to enforce compliance through corrections, warnings, or administrative fines for any regulatory infringements.
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