The Spanish market regulator came after soccer star Andres Iniesta for promoting cryptocurrency exchange platform Binance on his Twitter and Instagram accounts.
Iniesta took to social media to talk about his first crypto purchases and investment.
“I’m learning how to get started with crypto with @binance #BinanceForAll,” the player said on his social media accounts, with photos of himself in front of a laptop computer apparently making transactions on Binance’s website.
According to Reuters, the posts did not give any indication whether or not the content was paid for by the company.
The Spanish market regulator told him he should be thoroughly informed about cryptocurrencies before making any investment in them or recommending others to do so.
“Hi @andresiniesta8, cryptoassets, being unregulated products, carry some significant risks,” the regulator told the soccer player on his Twitter account.
Market regulators around the world have felt uneasy about cryptocurrencies and cryptocurrency trading platforms which handle huge amounts of money and whose operations are mostly unregulated.
Iniesta is a former player for Barcelona Football Club. He was part of the Spanish national team that won World Cup in 2010 in South Africa and now plays for Kobe in Japan. He has 25 million followers on Twitter and 38 million on Instagram. The post was liked 270,000 times on Instagram.