Spain's Comisión Nacional del Mercado de Valores (CNMV) has issued a public warning against the Snorter ($SNORT) project, stating it is not authorized to provide crypto-asset services under the EU's MiCA Regulation.
The notice was published on April 20, 2026, and flags the Spanish-language version of the Snorter Token website. The CNMV pointed to Articles 3 and 59 of MiCA, which require firms offering services such as operating trading platforms or executing orders on behalf of users to obtain prior authorization.
Snorter's core product is a Telegram-based trading bot that executes token purchases and interacts with user wallets. Functions like these can fall within the definition of a crypto-asset service provider under MiCA. If the bot performs these activities, it would need to be registered with regulators like the CNMV.
The CNMV did not accuse Snorter of fraud. The warning is meant to inform the public that the project is unsupervised and lacks approval to offer regulated crypto services in the EU.
Snorter ran a 5-month presale that raised $5.7 million from retail investors and ended in October 2025. The founding team is anonymous, with no developers, executives, or prior project history disclosed.
At the time of writing, $SNORT trades at $0.0069, a 93% decrease from the $0.1 listing price.
This is the second high-profile crypto presale flagged by the Spanish regulator in 2026, following Bitcoin Hyper in January.