With 2019 coming to a close, it is a good time to look back on improvements and concerns that exist related to the cryptocurrencies markets, successes that have been made to stop this kind of activity, and which sites and firms pose potential risks for the remainder of this year. That latter part is what the Belgian Financial Services Markets Authority (FSMA) provided last week with their updated list of likely cryptocurrency scams.
By definition, the FSMA listed sites that appeared to be used solely to swindle consumers. While not outright accusing these companies of wrongdoing, they made it clear that there is a reason to be concerned, hence why they provided the warning.
This list came from companies that are listed by the FSMA as “suspicious.” They have advised those who wish to make an investment in the crypto-assets market to avoid these sites.
“The principle remains the same: they offer you an investment they claim is secure, easy and very lucrative. They try to inspire confidence by assuring you that you don’t need to be an expert in cryptocurrencies in order to invest in them,” the FSMA explained in the statement.
The FSMA is among the government agencies that maintais a list of companies and websites that have been deemed as suspicious or likely to be a scam. They first began this list in February 2018.
Most often, firms are added to this list when it is discovered that they have made solicitations to consumers providing “investment opportunities,” but they are operating in the company illegally.