Advertising for digital assets in Belgium “must be accurate” and not misleading; ads should contain information about risks. It was stated in the country’s Financial Services and Markets Authority (FSMA).
The SMA issued a Regulation published on 17 March 2023 in the Official Gazette of Belgium (Moniteur belge/Belgisch Staatsblad) and will enter into force on 17 May 2023. The regulation has three main aspects:
- The basic principle is that advertising should be accurate and not misleading.
- Ads must contain mandatory information indicating risks.
- Media campaigns must be notified in advance to the FSMA. The regulation requires FSMA to be notified of marketing campaigns at least ten days in advance and sets out conditions that advertising must meet.
As a reminder, in February 2023, the UK Financial Conduct Authority threatened a prison term for unauthorized crypto advertising.
