In addition to the guidance provided previously, Spain has new regulations in place for how social media influencers may advertise or promote cryptocurrency.

Spain is reportedly set to enact legislation to restrict excessive cryptocurrency advertising by February 2022, according on Reuters. Cryptocurrencies and digital assets have grown in popularity worldwide, posing a danger to the financial system if not controlled. Next month, the Spanish National Securities Market Commission (CNMV) will require businesses and individuals to notify it at least 10 days before publishing a cryptocurrency-related ad. People with more than 100,000 subscribers on their YouTube or Twitter accounts are exempt. People with over 50,000 followers must notify Google of ads 20 hours before they go live on their social media platforms.

The CNMV will also monitor promotional or advertising contents for endorsements, guarantees and any form of prediction that could be misleading to investors. People with over 100k subscribers on YouTube will need a one million euro bond before they can even apply for an advertisement.

This move comes after Facebook banned cryptocurrency ads which began in January 2018. The FTC has also published a comprehensive set of guidelines for commercial endorsements on the internet. These rules ban any advertisements that promote "financial products and services that are frequently linked with deceptive or misleading promotional tactics, such as binary options, initial coin offerings, or cryptocurrency."

These restrictions come after other countries like China already implemented regulation on cryptocurrencies, so it will be interesting to see how it plays out in Spain.

Next month, the Spanish National Securities Market Commission (CNMV) will require businesses and individuals to provide it with at least 10 days' notice before launching a cryptocurrency-related ad. People with over 100k subscribers on YouTube will need 1 million euro bond before they can even apply for an advertisement.This move comes after Facebook banned cryptocurrency ads which began in January 2018. Under the company's advertising policies, Google forbids the promotion of "financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency."