Italy’s securities regulator, the Commissione Nazionale per le Societa e la Borsa (CONSOB), has amplified a new factsheet from the European Securities and Markets Authority (ESMA), warning social media finance influencers, or “finfluencers,” that European Union rules on investment recommendations and advertising apply fully to crypto and “get rich quick” content. In a Monday communication, CONSOB highlighted the ESMA’s finfluencers document, published on Thursday, which warns creators that “promoting a financial product or service isn’t like promoting shoes or watches.” Pushing contracts for difference (CFDs), forex, futures, certain crowdfunding products,…
Italy’s CONSOB Warns Finfluencers on ESMA Crypto Risk Rules
