Deciding to invest in cryptocurrencies, football player Andrés Iniesta made a post on his Twitter account that caught the attention of Spanish regulators.
The star football player, who has 25 million followers, wrote, “I’m learning how to start crypto with Binance,” by posting pictures of him tagging and trading on the crypto exchange Binance.
The Binance post of Andrés Iniesta, who spent the majority of his career at the Barcelona football club, received a warning from Spain’s National Securities Market Commission (CNMV).
hello,@andresiniesta8, los criptoactivos, al ser productos no regulados, tienen algunos riesgos relevantes. Es recomendable at leer el comunicado@CNMV_MEDIOS del 9/2/2021 https://t.co/SWRF73xEJj e informarse a fondo antes de invertir en ellos o de recomendar a otros que lo hagan
— CNMV (@CNMV_MEDIOS) November 24, 2021
Commenting under Iniesta’s post, CNMV said that cryptocurrencies are unregulated and have some risks.
The Spanish regulator also asked Iniesta to thoroughly familiarize themselves with cryptocurrencies before investing in them and recommending them to others.
In addition to the CNMV’s warning, football player Andrés Iniesta’s posts were reprimanded by his followers for advertising.