Quote from: DdmrDdmr on Today at 08:54:29 AM

Quote from: Outhue on January 31, 2023, 05:03:23 PM

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Not that I think it will get too far, but in light of all this wave of so called crypto influencers or alike, Spain has started to try to enforce rules to go by. Recently, the CNMV (National Securities & Exchange Commission), stated that they have reached out to 50 national influencers that were promoting crypto advice without the necessary background (it seems that they have to know what they are talking about, bear objectivity, and assure there are no conflict of interests in their doings).

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However, other persons who are subject to certain minimum requirements may also produce and disseminate
recommendations. When such persons present themselves to the general public as having experience or knowledge regarding financial
instruments and the market, or are perceived as such by market participants, the regulations qualify them as experts, thus being
subject to additional requirements.

This looks like a mess, they will only need to meet those requirements if they are presenting themselves or are perceived as professionals., it would be peanuts to avoid such things and easy to win in court if they are ever charged.

The SEC has been doing it far easier, you promote something and you don't disclose you're getting paid by it:

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"The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion,"

We all know how it ended with Kim, 1.2 million fine for takign 250k and three years to stay out of promoting crypto.

As for advice in general and not shilling, it's pretty hard to quantify those, there might be guys who nailed every price change last year and now they are not sure what day is tomorrow, even if one has the trading background if he sucks completely how do you deal with this?