Elon Musk’s X fined 5 million euros in Spain for breaching crypto-ad rules: Report

Spanish regulators have taken decisive action against the social-media platform X, formerly known as Twitter, owned by Elon Musk, by imposing a fine of €5 million (about US $5.8 million) for failing to prevent unauthorised cryptocurrency advertising on its platform. The penalty was issued by the Comisión Nacional del Mercado de Valores (CNMV), Spain’s national securities regulator, and was officially dated 3 November 2025, with the public announcement made on 13 November 2025.The fine underscores growing regulatory emphasis in Spain and across Europe on holding online platforms accountable for the promotion of financial products and ensuring advertisements are properly authorised and vetted.