Spain is set to introduce significant changes to social media regulations, as announced by Prime Minister Pedro Sánchez. Starting next week, the country plans to prohibit children under 16 from accessing social media platforms. This move echoes recent discussions in the UK about implementing similar age restrictions.
During his speech at the World Governments Summit in Dubai, Sánchez emphasized the need for platforms to establish effective age-verification systems. The aim is to shield minors from what he described as the "digital Wild West," which exposes them to potential harm such as addiction, abuse, and manipulation. To enforce these measures, Sánchez indicated that platform executives could face criminal charges if they fail to remove illegal or harmful content.
"Our children are navigating a space they were never meant to explore alone," Sánchez stated. "We have a duty to protect them from the dangers of the digital age."
The upcoming regulations are part of a broader initiative to combat disinformation on social media. This includes probing into the operations of platforms like Elon Musk's Grok, Instagram, and TikTok for their role in algorithmic manipulation and the spread of misinformation.
This announcement closely follows the UK Prime Minister Keir Starmer's willingness to consider a similar ban on social media for minors. Additionally, Australia has already enacted laws requiring platforms to restrict access for those under 16.
In the context of cryptocurrency, Spain is navigating the transition to the Markets in Crypto Assets (MiCA) framework, which was adopted by the European Union in 2023. This regulatory framework mandates that crypto companies comply with new standards by June 30, 2024, or cease their operations in the EU. Spain's national securities regulator has provided guidance on authorizations and compliance for crypto firms as part of this transition.