Why Australia Has Issued A Warning On Crypto Profits To Investors
Crypto as an industry seems to be coming out of a “Wild West” zone to be completed regulated and control by every major agency and regulator around the globe. A sector falsely thought to lack regulations, crypto investors know the opposite is the truth rule. Related Reading | Singapore Authority Gives Crypto Licenses To DBS And […]
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Binance’s regulatory troubles continue with Lithuania being the latest country to issue a warning about the cryptocurrency exchange. Lithuania’s announcement came one day after Italy issued a similar warning. Lithuania Warns Binance Lithuania’s central bank announced Friday that it has issued a warning to Binance UAB about its unlicensed investment services provided in Lithuania. The central bank also “ordered the company to ensure that its publicly available information is not misleading.” The central bank explained that it has assessed publicly available....
The Financial Sector Conduct Authority (FSCA) has issued what it terms crypto health warning after receiving many complaints from South African victims of crypto scams. In the warning, the FSCA reminds prospective investors that crypto-related investments are currently not regulated. Therefore, investors have no recourse against anyone should they get duped. Cryptocurrencies Are High-Risk Assets The FSCA’s warning comes a few weeks after an executive with the regulatory body bemoaned the challenges of regulating cryptocurrencies and how scammers are taking advantage of this. The....
Aussie top crypto exchange Swyftx, which boasts over 600,000 users across Australia and Newzealand, conducted its annual survey for September 2022. Interestingly, the results reveal that Australian females make more crypto profits than Australian men. Despite the market’s high volatility and downtrends, 72% of crypto users have reported profits on their investments. Furthermore, the average […]
The U.S. Securities and Exchange Commission (SEC) has issued a warning about fraudulent investment schemes involving cryptocurrencies. The regulator notes that some investors may have fear of missing out (FOMO) given the rise in prices of some crypto assets in recent years.
SEC Warns Investors of Crypto Scams
The U.S. Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) and Division of Enforcement’s Retail Strategy Task Force (RSTF) issued an Investor Alert on crypto investment scams last week.
The notice explains that....
The FMA in Austria has advised people to take extreme caution when it comes to investing in cryptocurrency related schemes. Austrian finance watchdog Financial Market Authority (FMA) is a bit late to the game. The regulatory body has issued a warning against the use of virtual currencies, including Bitcoin. The latest warning is similar to the words of caution used by various central banks and government institutions across the world. While rest of the regulatory and governance bodies issued the warning way back in 2014, FMA has decided to do at a time when Bitcoin is gaining popularity....