Footballer Andrés Iniesta gets into trouble for cryptocurrencies

Andrés Iniesta, a Spanish footballer known for his successes with Barcelona, ​​has been involved in a small controversy due to a cryptocurrency advertisement he published on his social networks.

Iniesta made a post on Twitter and Instagram in which he mentioned the Binance company and in which he claimed to be learning how to use cryptocurrencies and his world. Adding both platforms, the footballer reaches 38 million followers and only on Instagram, the image had more than 303,000 likes and 1,300 comments.

However, Iniesta’s publication alerted the National Securities Market Commission, which responded to the player on his Twitter account. “Crypto assets, being unregulated products, have some relevant risks,” they indicated.

Hello,@ andresiniesta8, crypto assets, being unregulated products, have some relevant risks. It is advisable to read the statement from@CNMV_MEDIOS from 2/9/2021 https://t.co/SWRF73xEJj and educate yourself thoroughly before investing in them or recommending others to do so

— CNMV (@CNMV_MEDIOS) November 24, 2021

The organism linked to a statement in which they warn about the “extreme volatility, complexity and lack of transparency ”related to cryptocurrencies and their technology, which also “They make them a high-risk gamble.”

In addition, the CNMV emphasizes that cryptocurrencies are not endorsed or regulated by the Central Bank of Spain, which means that in case of problems there will be no further backing or an authority to back it up.

On the other hand, a potential problem with Andrés Iniesta’s publication is that it was labeled as paid advertising, something that social media platforms have encouraged in recent times and especially with high-level personalities.

Andrés Iniesta’s advertising is but another example of how cryptocurrencies, NFTs and technology blockchain It has permeated the world of sports, which is increasingly embracing non-expendable objects.

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