ADVERTISING | Updated IAP guidelines on crypto-asset advertising

On 6 May 2024, the Italian Advertising Self-regulatory Body (IAP) updated the 2023 Guidelines on crypto-asset advertising (the “Guidelines”) in light of the changes introduced by Regulation (EU) 2023/1114 on markets in crypto-assets (the “Regulation”). With the aim of harmonising the current legal framework for crypto-assets (i.e. digital representations of value or rights that can be transferred and stored electronically using distributed ledger or similar technology), the Guidelines provide that crypto-asset advertising shall (a) include a disclaimer clarifying that the marketing communication has not been reviewed or approved by any competent authority in any EU member state, and that the crypto-asset provider is solely responsible for its content; (b) provide a clarification that trading crypto-assets is a highly risky activity that may result in the loss of the entire amount invested; and (v) generally comply with the provisions of the Italian Consumer Code on misleading advertising, as well as with those of the IAP Digital Chart Regulation, where applicable.

Newsletter n. 96 – May 2024