Spain’s CNMV Issues Warning on Snorter ($SNORT) Over Unauthorized Crypto Services

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 European Union regulation.

The notice, published on April 20, 2026, flags the Spanish-language version of the Snorter Token website and says it is not registered to carry out regulated activities under the EU’s MiCA Regulation.

The warning places Snorter among a growing list of crypto projects flagged by European regulators as MiCA enforcement begins to take effect. It is the second high-profile crypto presale to receive such a warning from the Spanish regulator in 2026, following Bitcoin Hyper’s flagging in January.

CNMV Says Snorter Is Not Authorized Under MiCA

In its notice, the CNMV said that Snorter “is not authorised to carry on activities reserved for crypto-asset service providers” under MiCA.

The regulator pointed to Articles 3 and 59 of the regulation, which require firms offering certain crypto services to obtain prior authorization. These services include operating trading platforms, executing orders, and providing crypto-related tools that interact with user funds.

Snorter’s core product, a Telegram trading bot that executes token purchases and interacts with user wallets, can fall within the definition of a crypto-asset service provider under MiCA.

Under the regulation, services such as executing orders on behalf of users or operating systems that facilitate crypto trading require prior authorization. If the bot performs these functions, it would need to be registered with regulators like the CNMV.

It’s important to note that the CNMV did not accuse Snorter of fraud or illegal conduct. It issued the warning to inform the public that the project is not supervised and lacks approval to offer regulated crypto services under EU rules.

Snorter Presale Raises Over $5.7 Million With Trading Bot Pitch and Anonymous Team

Snorter is a crypto project that conducted a 5-month-long presale for the $SNORT token, raising $5.7 million from retail investors. The sale was structured in multiple stages, with the token price increasing over time, and concluded at the end of October 2025.

The project has developed a Telegram-based trading bot, claiming the bot is designed to help users buy newly launched tokens quickly, often described as “sniping” early opportunities on chains like Solana and Ethereum. It also promotes features such as fast execution and protection against front-running.

Snorter’s founding team remains anonymous. No developers or executives are disclosed, and there are no linked profiles or prior project history.

At the time of writing, the $SNORT token is trading at the price of $0.0069, which is a 93% decrease from the listing price of $0.1.