The Ombudsman, the National Securities Market Commission CNMV, and the Madrid Community Presidency opened inquiries with the Ministry of Justice and Interior to determine whether Mundocrypto Metaverse Day, planned for this Saturday at the Wizink Center in Madrid, can go ahead as scheduled.
These steps followed a formal processing of a complaint lodged by an association that has raised concerns about the phenomenon, describing it as prevalent among minors and very young adults. The Ombudsman explained that the matter would be examined in its capacity as the event’s competent authority, while the CNMV would assess it as the regulator responsible for financial product transactions as part of its remit to monitor potential market activities connected to the event.
If it becomes clear that the event lacks the necessary permits, the Ombudsman urged the relevant authorities to take appropriate actions to address the situation.
MundoCrypto, the company that organizes the event under the umbrella of CNMV oversight, stated that it does not hold any license to advise on financial instruments or to conduct interim investment transactions in such instruments. The organization emphasized its commitment to education in the digital sector rather than financial services.
Among the event’s sponsors, certain entities have drawn scrutiny from CNMV, including Huobi, Bitget, and Bybit, which the regulator has warned may be considered unregistered or restricted in the context of financial activities in the country.
Separately, the MundoCrypto chief executive argued that the company does not require CNMV authorization because it operates as an educational initiative not as a financial entity that sells or advises on financial instruments. The executive highlighted the focus on digital sector education rather than investment services, underscoring the event’s educational intent as its core objective. CNMV reiterates that any engagement with financial instruments would need proper licensing and registration to comply with national rules. In the current scenario, the regulator is evaluating whether the event and its program align with those regulatory requirements, and it has indicated its willingness to intervene if necessary to protect participants. Observers note that the discussion touches on important questions about how digital finance education events should be organized within the Spanish regulatory framework, especially when young audiences are involved. The Ombudsman and CNMV are coordinating with the Ministry of Justice and Interior to ensure a clear, compliant path for the event or to halt preparations if permissions are not in place. This case reflects ongoing vigilance around crypto education activities and the evolving landscape of consumer protection in a rapidly changing market. The collaboration among the Ombudsman, CNMV, and regional authorities signals a careful approach to balancing educational goals with the legal prerequisites that apply to financial matters and public events. Stakeholders are watching closely to see how authorities interpret licensing requirements for organizations that classify themselves primarily as educational platforms in the digital space, and how this will affect future participation in similar initiatives. In summary, the central issue remains whether Mundocrypto Metaverse Day meets the legal standards for holding a public event related to digital assets, and the process will continue under the supervision of the competent bodies until a definitive decision is taken. The outcome will set a precedent for the regulatory treatment of digitally oriented educational events in Spain and provide clearer guidance for organizers and sponsors alike. This ongoing process is documented by the Ombudsman and CNMV, with transparency and accountability emphasized in communications to the public. An official update with authoritative conclusions is expected after the review by the involved ministries and regulatory offices. The language used by the regulators indicates a commitment to protecting young participants while allowing legitimate educational activities to proceed under proper licensing. For now, organizers are awaiting the regulators’ decision, and participants are advised to monitor official statements for the latest information on permissions, compliance, and safety assurances. The conversation around Mundocrypto Metaverse Day thus highlights the balance regulators seek between fostering digital learning opportunities and enforcing financial and consumer protection laws that govern public events in Spain.