The European Consumer Organization (BEUC) has filed a complaint against Twitter, Google, YouTube, TikTok and Instagram with the European Commission for misleading crypto ads.
In the midst of the bad days of the crypto industry, a new event has come to the fore that connects social media platforms. BEUC knocked on the door of the European Commission and consumer authorities. In the complaint of BEUC, it is stated that global giant companies are preparing the ground for misleading promotions of cryptocurrencies. These companies; It became Google, YouTube, TikTok, Instagram and Twitter.
Social Media Platforms Complained About Crypto
The European Consumer Organization (BEUC) has filed a complaint with the European Commission for global giant companies over their moves on crypto. If this complaint is evaluated positively, it can turn into regulatory clarifications.
These days, when US regulators are targeting crypto exchanges, social media platforms are also targeted in Europe. Having accepted the set of rules on MiCA, Europe has now focused on crypto promotions.
BEUC knocked on the door of the European Commission with a complaint that misleading advertisements in the crypto space were widely and easily served. The companies mentioned in this complaint; It became Google, Twitter, Instagram, TikTok and YouTube.
Recently, it is seen that many crypto fraud attempts, especially on Twitter, have appeared in front of investors through advertisements. On the other hand, it is possible to encounter similar images on YouTube’s platform.
Reuters noted that companies may face regulatory pressure if BEUC’s complaint on this issue is deemed valid in Europe.
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