Philippines Regulator Warns Investors to Steer Clear of Mining City’s Bitcoin...
There’s a mining contract scheme people are discussing and making the rounds on the web called “Mining City” or “Bitcoin Vault.” The Philippines SEC recently put out a warning against the operation and the alleged masterminds behind the project. One thing is for sure, there’s been a number of crypto Ponzi operations over the years, and they typically attract a lot of users before they crumble. However, as the story goes with any pyramid scheme when the project crashes, only the top leaders make off with all the money. One particular pyramid scheme called....
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Singapore’s deputy prime minister has advised retail investors to steer clear of cryptocurrencies, citing that they are “highly risky.” He stressed, “We cannot express this enough.” Singapore’s Deputy Prime Minister Warns About Crypto Singapore’s Deputy Prime Minister Heng Swee Keat reportedly warned retail investors against investing in cryptocurrency Tuesday while speaking at the Asia Tech x Singapore (ATxSG) summit. He said: Retail investors, especially, should steer clear of cryptocurrencies. We cannot express this enough. He brought up....
The central bank of the Philippines, the primary regulator of the country’s crypto sector, has warned investors about engaging with unregistered and foreign crypto service providers. They “may present additional challenges on enforcing legal recourse and consumer protection and redress mechanisms for local customers, among others,” the regulator said.
The Philippine Central Bank’s Crypto Warnings
The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), issued a public warning Tuesday regarding unregistered and foreign crypto....
The financial regulator of the U.S. state of Arizona has warned investors about crypto interest-bearing accounts. “Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return,” the regulator said. State Regulator Warns About Crypto Interest-Bearing Accounts The Arizona Corporation Commission issued an investor alert this week, warning about “digital asset financial services companies that offer interest-bearing crypto-asset accounts.” The regulator explained: “With....
Crypto research firm, Messari says new Defi token offerings or initial dex offerings (IDO) are a reincarnation of initial coin offerings (ICO) and warns average investors to steer clear these. The firm notes that several early participants of IDOs are the ones that typically make off with outsized returns, while others are left deeply in the red. For the rest of the participants, Messari suggests it is better to wait for the market to settle on a price before buying. In a Twitter thread on September 28, the research firm explains that IDOs, which are “conducted on automated market....
Europe’s top securities regulator has warned that soaring inflation could drive investors to cryptocurrencies. Stressing that there is “an imbalance” in how each EU country deals with crypto, the regulator calls for a common regulatory framework across European countries. Inflation Could Drive Investors to Crypto, EU Regulator Says The European Securities and Markets Authority (ESMA), the EU’s top securities markets regulator, has warned that soaring inflation may drive retail investors into cryptocurrencies, Bloomberg reported Thursday. The regulator has also....