FSMA of Belgium warns of fraud with crypto-currencies

The Financial Services and Markets Office of Belgium (FSMA) issued a warning on trading platforms suspected of fraudulent activity.

The agency published a list consisting of 19 crypto-exchange platforms, whose customers sent complaints to the Office. Also, the list includes resources in which activities were found signs of fraud.

The regulator stressed that the number of dubious crypto companies is much wider, however, at the moment only those that users themselves told about are included in the list.

FSMA warns against suspicious crypto-exchange platforms

According to the Office's report, many of the clients who submitted complaints argue that they can not withdraw money invested in projects. Some of them even do not have the opportunity to contact the company after investing funds, or lose access to the account.

In its announcement, the Office encourages investors to be more cautious, paying attention to suspicious actions on the part of the platforms.

In addition, the agency encourages users to require the provision of more accurate data about the company, and even after receiving them to treat information critically, informs Bitcoin.com.

Earlier, the Governor of the Central Bank of Belgium said that before the creation of a legal framework for crypto currency, it is worth stop calling Bitcoin is a currency, as this can mislead potential investors.

Author: Vasilisa Ming, Analyst Freedman Club Crypto News

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