Spain Fines Musk's X €5M ($5.8M) for Unauthorized Crypto Advertising

Published at 2025-11-13 10:00:11

Spain's stock market regulator, the CNMV, has fined Elon Musk's social platform X €5 million ($5.8 million) for allowing a crypto company to advertise investment services without confirming it held the required authorization. The sanction follows an investigation that found X did not take sufficient steps to ensure the advertiser was properly licensed to offer investment products.

The ruling signals increased pressure on social platforms to police financial and crypto-related ads and could prompt X to tighten its vetting and compliance processes. For crypto firms, the decision reinforces the need for clear regulatory status before running investment promotions, while regulators across Europe may view the case as precedent for holding intermediaries accountable for advertising compliance.

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Coinbase said it is collaborating with leading U.S. banks on stablecoin projects and pilot crypto services, with CEO Brian Armstrong noting banks are "leaning into this as an opportunity." The move reflects a growing, if cautious, Wall Street interest in crypto infrastructure.

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BlackRock Sells $135M in Ethereum Despite 24‑Hour Market Rebound

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Polymarket Relaunches in U.S. After CFTC Approval

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Published at 2025-12-03 17:15:09

Dogecoin Activity Surges 10,187%, Ending Five-Day Slide

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