📣 Spanish Regulator Warns Social Network X
posted 13 Nov 2023
Spain's National Securities Market Commission (CNMV) has alerted Social Network X to potential violations due to fraudulent cryptocurrency advertisements on the platform. CNMV's head, Rodrigo Valbuena, cited ads for a fictitious project using celebrity images as an example.Under Spanish law, social networks are fully accountable for their advertising content and could face sanctions for multiple infringements.
The regulator has pledged to fully exercise its supervisory and enforcement powers against companies violating the law.
“I can assure you that we will scrupulously exercise all our capacities, supervisory powers and our supervisory and sanctioning powers in these cases,” Rodrigo Valbuena said.
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