Belgium’s digital currency industry is bracing itself for new governing rules that will give the country’s Financial Services and Markets Authority (FSMA) wider powers.
Following heightened concerns for investors’ protection, the rules are expected to come into operation on May 17. The collapse of FTX and the contagion effect it had forced the FSMA to apply to the government for wider regulatory powers.
Under the incoming regulation, the FSMA will impose tighter restrictions on digital currency advertisements in the country, and a peek into the rulebook shows three basic requirements. The first requires all advertisements to be wholly accurate, while the second imposes a condition that the FSMA should be given a 10-day notification window for all mass campaigns.
