The Hungarian Competition Authority (GVH) has issued guidance on financial influencers, who promote various financial products and services, including cryptocurrencies, on social media platforms. The GVH highlights the importance of transparency when influencers receive compensation for their content, as it may impact the objectivity of their recommendations.

GVH emphasizes the need for influencers to clearly disclose any paid promotions and for businesses and advertisers to ensure compliance with advertising regulations, particularly in distinguishing promotional content from organic posts.

GVH has been providing practical advice to market participants to promote compliance with competition rules. The authority recommends influencers to review its marketing guidelines, which illustrate lawful practices in consumer communication.

Consumers are urged to approach financial matters cautiously, seek advice from financial experts, and conduct thorough research before making decisions. GVH recommends consulting the Hungarian National Bank's 'Financial Navigator' materials for further information on financial products.