According to CoinDesk reports, the Belgian top financial regulatory agency on Monday released risk warning, warning investors to pay attention to encryption currency fraud.
The Financial Services and Markets Authority (FSMA) said in a notice released on Monday that “cryptocurrency is a bubble that has been speculating this year.”
FSMA and the National Bank of Belgium (NBB) share the public responsibility for overseeing the Belgian financial industry.
The regulator said in its statement that investors should be wary of potential fraudsters who sell cryptocurrencies to maximize profits.
“The fraudsters are very aware of this and are trying to attract online customers through fake cryptocurrencies and huge profits. But the only thing they can actually do is take the customer’s money and disappear. It’s that simple.”
FSMA officials also drafted a list of 28 trading platforms that they considered fraudulent and said the composition of the list was “completely based on FSMA’s findings, especially from consumers.”
In February of this year, FSMA issued the first warning about crypto-fraud, saying that investors who believe in suspicious websites “have never recovered their capital investment” and sarcastically “they may have just heard nothing from the investing company. Further information”.
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