The European Consumer Organisation (BEUC) is calling for more stringent regulations on the advertising of cryptocurrencies on social media. Cryptocurrencies, such as Bitcoin, have become increasingly popular in recent years, and with that popularity has come a surge in the amount of advertising for them on social media platforms. However, BEUC is concerned that many of these ads are misleading and could lead to consumers making bad investment decisions.

BEUC is calling for social media platforms to take more responsibility for the content they are allowing to be advertised. They are asking for more stringent regulations on the advertising of cryptocurrencies, including greater transparency about the risks associated with investing in them. They are also asking for more information about the people behind the ads, so that consumers can make informed decisions.

The BEUC’s call for more stringent regulations is part of a wider trend towards greater regulation of cryptocurrencies. Governments around the world are beginning to take a closer look at the cryptocurrency market, and are introducing legislation to protect consumers from potential risks. The European Union has recently introduced the Fifth Anti-Money Laundering Directive, which requires cryptocurrency exchanges to register with national authorities and to comply with anti-money laundering regulations.

The BEUC’s call for more stringent regulations is a welcome move, as it will help protect consumers from potential risks associated with investing in cryptocurrencies. It is also a reminder that social media platforms need to take more responsibility for the content they are allowing to be advertised, and should ensure that their users are provided with accurate and transparent information about the products they are investing in.