Italy’s financial markets regulator ESMA has issued a clear warning to crypto influencers and online financial promoters, reinforcing that European Union investment and advertising laws fully apply to digital assets and social media content. The notice follows the release of a new EU-level factsheet addressing the growing influence of so-called “finfluencers” in crypto markets.
The guidance stresses that promoting crypto products is not the same as lifestyle advertising. Content involving volatile cryptocurrencies, derivatives, forex, or high-risk investment products can expose investors to losses of up to 100% of their capital. Importantly, individuals remain legally responsible for what they post, even if they do not present themselves as licensed professionals.
Regulators emphasized that paid partnerships must be clearly disclosed, and brief statements such as “this is not financial advice” do not remove regulatory obligations. Providing personalized investment suggestions without authorization may qualify as unlawful investment advice under EU rules.
Authorities also urged the public to be cautious of “get rich quick” claims, noting that influencers can unintentionally facilitate fraud or crypto scams if they promote unlicensed operators.
This move fits into a broader European push to monitor financial promotions on social platforms. Enforcement actions can include administrative penalties reaching millions of euros, and in some jurisdictions, criminal liability. The message is clear: as crypto promotion grows online, regulatory scrutiny is accelerating across Europe.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.