Consumer Rights Organisation Says Crypto Ads on Social Media false

The European Consumer Organisation (BEUC) has filed a complaint with the European Commission, alleging that popular social networks are allowing misleading promotion of cryptocurrencies, putting consumers at risk. BEUC published a report titled 'Hype or harm? The great social media crypto con,' highlighting examples from Instagram, YouTube, Twitter, and TikTok as major players in crypto advertising. The report mentions that platforms like Facebook, Twitter, and TikTok have allowed crypto ads despite their own rules against such promotions. BEUC calls for stricter advertising policies, influencer prohibitions, and reporting measures to be implemented by social media platforms. In France, the Senate approved an amendment permitting registered crypto companies to engage social media influencers for advertising purposes.