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The Dutch Authority for the Financial Markets (AFM) has announced key standards under the Markets in Crypto-Assets Regulation (MiCAR) for advertising and providing information about costs. This announcement was made in a press release on January 21, 2025.
Since December 30, 2024, MiCAR has been fully enforced, introducing new requirements for advertising and cost information disclosure. According to the AFM, exploratory investigations conducted in 2023 and 2024 assessed how Crypto Asset Service Providers (CASPs) were adhering to these standards. The investigations revealed several issues of non-compliance with MiCAR's guidelines. The AFM emphasizes the necessity of clear, accurate, and non-misleading information to protect consumers and support informed decision-making.
MiCAR mandates that CASPs provide correct, clear, and non-misleading information, particularly concerning risks, historical returns, staking rewards, and promotional campaigns. The AFM’s research identified both good practices and areas needing improvement. Notably, some CASPs did not adequately detail risks, pricing, or costs on their websites. The AFM expects CASPs to align their practices with MiCAR requirements to ensure consumer protection. The authority will oversee compliance to safeguard consumers from significant risks associated with crypto trading.
