<h1>Regulatory risks from sovereign bitcoin purchases and AI-token presale claims: securities classification, marketing, disclosure, and consumer protection</h1> European sovereign purchases of bitcoin and promotional claims about an AI-token presale raise potential regulatory issues including securities classification, marketing and disclosure obligations, and consumer protection concerns. The article asserts independent audits and investment returns, promotes a single official sales channel, and includes high-yield staking and price-multiplication forecasts, which could trigger scrutiny for misleading or unsubstantiated claims and anti-fraud rules. Cross-border ads, recommendations to avoid third-party sellers, and statements by a U.S. political figure about a national reserve may implicate financial-stability, custodial and disclosure requirements under applicable securities and payments laws.