Spain Imposes €5 Million Fine on X for Cryptocurrency Advertising Violations

Nov 13, 2025 10:38 pm CST

Spain's securities regulator has fined Elon Musk's platform X €5 million ($5.8 million) for failing to verify cryptocurrency advertisers, specifically citing promotions by unauthorized company Quantum AI. This penalty follows regulations introduced in March 2023 requiring social media platforms to verify that financial advertisers are properly authorized to offer services in Spain.