Spain Fined X $5.8 Million Over Cryptoasset Ads Violations Targeting Spanish Users
On 3 November 2025, Spain’s financial watchdog, Comisión Nacional del Mercado de Valores (CNMV), fined €5 million (about US $5.8 million) to the social‑media platform X (formerly Twitter). The fine stemmed from ads promoting crypto‑assets that targeted Spanish users ads placed by a firm called Quantum AI, which lacked the proper authorisation to offer investment services in Spain.
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