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1. The Regulation is intended for advertisements that are disseminated among consumers when distributing virtual currencies in Belgium. What is understood by distribution?

Distribution means 'presenting a product or a virtual currency, in any way whatsoever, with a view to encouraging an existing or potential client to purchase, subscribe to, enter into, accept, sign up for or open the product or currency in question'.

Distribution is a broad concept. The following situations, for example, constitute distribution:

  • a person holds virtual currencies and advertises them for the purpose of selling to consumers;
  • a service provider makes an infrastructure available to consumers that enables them to invest in virtual currencies (e.g. a trading platform) and advertises investment in virtual currencies either via its own communication channel (e.g. the service provider’s website allowing transactions to be carried out on a platform), or via another communication channel (e.g. newspaper website or social media);
  • an influencer proposes a virtual currency to consumers with a view to encouraging them to purchase it and receives remuneration from a trading platform for doing so.