Compass Investments Spain, following the example of the UK, intends to ban

📌 Spain, following the example of the UK, intends to ban social networks for those under the age of sixteen.

The head of the Spanish government Pedro Sanchez announced that the country intends to suppress access to social networks for those under sixteen years old and oblige online services to implement age verification mechanisms to establish safeguards in what he dubbed digital frontier. Cryptocurrency

Speaking at the World Government Summit in Dubai on Tuesday, Sanchez said Spain will insist on effective barriers that work for these platforms in an attempt to limit access to those under the age of majority. According to the Spanish leader, government agencies plan to prosecute the managers of services in criminal proceedings for failure to comply with the removal of inappropriate or hostile content. Today, our children are being exposed to areas where they should not be acting on their own, Sanchez said. It’s an area of addiction, abuse, obscene content, propaganda, aggression. We will not tolerate it anymore. We will protect them from this digital chaos.

the Prime Minister said that the legislation will come into force next week. He said that these initiatives are part of a broader campaign to counter false information on the networks related to manipulation and amplification of algorithms, which has already begun to check Ilon Musk’s Grok, Instagram and TikTok.

Sanchez’s announcement comes about two weeks after British Prime Minister Keir Starmer said he would consider banning social media for minors. Australian authorities in December also required social networking sites to block the accounts of users under the age of 16.

As a member of the European Union, Spain is subject to the Markets in Cryptoassets Act (MiCA), adopted in 2023. The act, which aims to create uniform rules for cryptocurrency platforms operating in the EU, gives cryptocurrency companies operating before December 2024 until June 30 to comply with MiCA or cease providing services.

Spain’s national securities regulator released its expectations for crypto firms in December, detailing licensing, notification and compliance requirements under MiCA.