The CNMV exhibits Andrés Iniesta a yellow card for promoting crypto property | Economic system

“I am learning how to get started with cryptocurrencies.” Andrés Iniesta printed this morning on his Twitter account, the place he has 25.2 million followers, this message together with a photograph the place he posed with the monetary agency that sponsored the advert. This message, nevertheless, has price the writer of the aim that gave Spain the World Cup in South Africa the yellow card of the National Securities Market Commission (CNMV).

The inventory market supervisor, additionally from his Twitter account, reminded Iniesta that “crypto assets, being unregulated products, have some relevant risks” and advisable that he learn the assertion printed by this physique on this regard. “You have to be thoroughly informed before investing in them or recommending others to do so,” added the CNMV on the social community.

In an interview printed final Sunday in EL PAÍS, the president of the CNMV, Rodrigo Buenaventura, insisted on the dangers concerned in investing in bitcoins and different cryptocurrencies. “We must be extremely cautious because they are assets with very different risks from those we are used to. I am aware that many people invest in crypto assets, but it is important that these risks are well limited because they are products that are not regulated or subject to supervision and where there is the possibility of manipulation both in their price and in the information, ”he identified.

The CNMV, conscious of the growth in funding in cryptocurrencies, finalizes a round on its promoting. More and extra celebrities are signed by monetary corporations specialised in these property to advertise them. In parallel, the European Union is negotiating a regulation that may deal with the dangers related to these property (custody, commercialization, data and manipulation). “It is a rule that will take several months to arrive and it was considered convenient to advance the regulation around advertising. But they are complementary norms, none by itself is sufficient to confront this phenomenon ”, in response to Buenaventura.

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