Advertising for cryptocurrencies is subject to new rules in Belgium. For example, the Financial Services and Markets Authority should be informed in advance of major advertising campaigns, it states in this press release.
Own research would show that advertisements for cryptocurrencies are misleading. Too much is given the impression that you can get rich quickly with it. So, for example, exchanges and brokers have to point out to their (future) customers a lot about the risks associated with cryptocurrencies, such as volatility. However, investors are not deterred by the past crypto winter or the collapse of FTX.
The new rules will come into force on May 17. Every ad should state that “risk is the only guarantee of cryptos”. Our neighboring country joins countries such as the United Kingdom and Spain that also call for caution in trading cryptocurrencies.
In the Netherlands, the Dutch Financial Markets Authority or the advertising Commission have not yet drawn up guidelines specifically for crypto advertising. However, leveraged products such as crypto CFDs are now prohibited, but in practice, the Dutch can still open leverage on crypto exchanges such as Binance and Bybit.