Spain fines platform X for illegally promoting cryptocurrencies
Date: 2025-11-14 Author: Gabriel Deangelo Categories: BUSINESS
Spain's financial markets regulator, the CNMV, announced a fine against platform X (formerly Twitter) for hosting cryptocurrency ads from Quantum AI, a company not registered in the United States. The investigation began in November 2023 after discovering advertisements promoting investments in digital assets without the appropriate licenses.
The CNMV emphasized that the social network should have verified the advertiser's legality before publishing the ads. The violation of regulations resulted in the fine, as platforms, media outlets, and websites are required to monitor financial product advertising campaigns and verify that advertisers are licensed to provide investment services.
Spanish law requires online platforms to verify that advertisers are licensed and not listed as violators. In 2022, Spanish authorities tightened regulations on cryptocurrency promotion, instructing the CNMV to audit advertising campaigns and inform investors about the potential risks associated with digital assets.
Along with Spain, other countries are also strengthening their oversight of crypto advertising. For example, in 2025, Hong Kong authorities introduced penalties for promoting stablecoins without a regulatory license, with violators facing a fine of approximately $6,300 and up to six months in prison. In the UK, the HTX exchange was recently accused of hosting cryptocurrency advertising without the approval of the Financial Conduct Authority (FCA).
Experts note that the measures taken by European and Asian regulators are aimed at increasing market transparency and protecting investors from deceptive advertising. These actions highlight the importance of verifying the legitimacy of companies offering investment products and adhering to international standards.
The CNMV continues to monitor online platforms, requiring compliance with advertising regulations and transparency of information to users. The fine against Platform X serves as a signal to all social media platforms about the need for strict oversight of the promotion of financial services, especially those related to high-risk assets like cryptocurrencies.
Regulators warn that repeat violations may result in even more severe measures, including account blocking and additional financial sanctions. With the growing popularity of digital assets, oversight and regulation of advertising are becoming key tools for protecting investors and maintaining financial market stability.
