Belgium’s Crypto Ad Rules Are Punchy
Belgium is taking no prisoners with its new rules for cryptocurrency advertisements. The country has just revealed a new set of rules which will require cryptocurrency ads to feature a ‘punchy warning’ about the risks of the investment. That’s right, Belgian crypto exhanges, platforms and projects are about to get a serious dose of reality.
Risk Warnings a Must in Belgium
It should come as no surprise that the Belgian government is taking a cautious approach to cryptocurrency, particularly when it comes to ensuring investors are aware of the risks. The new rules stipulate that cryptocurrency ads – whether on television, radio, internet or print – must carry a ‘punchy warning’.
This warning should list the risks associated with cryptocurrency investing, including the possibility of losses, and should feature prominently in the ad. That means no more sneakily incorporating the text in the tiny footnotes of an ad, or having it appear in small print.
Humorous Content Banned
For better or worse, the Belgian authorities are also banning humorous or light-hearted ads featuring cryptocurrency. The government takes this stance because ‘humorous content lacks seriousness’ and thus fails to support the purpose of the warning.
In addition, investment platforms and exchanges must remind investors to not invest more than their capacity allows for, and to consult a financial professional before making any investments.
Crypto Restrictions Everywhere
The Belgian regulations come at a time when many governments across the world are introducing stricter measures when it comes to cryptocurrency. For example, in China, banks and payment services have banned both cryptocurrency trading and Initial Coin Offering payments. In India, the government recently proposed a ban on private cryptocurrency projects.
Summary of Belgian Crypto Rules:
- Ads must include a ‘Punchy Warning’ – this warning should explain the risks of cryptocurrency investing and should feature prominently in the ad.
- Humorous content is banned – any ad that tries to be funny regarding cryptocurrency will receive a banhamer from the Belgian authorities.
- Invest wisely – investors should be reminded to stay within their investment capacity and seek professional advice when dealing with digital currency investments.
It looks like the Belgian government is being especially strict when it comes to crypto regulations. We still need to wait and see what other countries will do to ensure ICOs don’t become a wild West of scams and money laundering. But if the rest of the world follows suit, we won’t be seeing ‘funny’ crypto ads any time soon!
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