Spain imposes €5 million fine on Musk's X in cryptoasset ad case
Spain's stock market regulator has imposed a €5 million fine on Elon Musk-owned social media platform X in cryptoasset advertising case. The official bulletin said that X failed to "fulfil duties to verify Quantum AI's authorisation to provide investment services". Madrid took steps to regulate rampant advertising of cryptoassets in 2022, making sure investors were aware of the risks involved.