FSMA declared that “cryptocurrencies are the hype of the year” in an announcement published on September 3. The regulator is a public institution that supervises the Belgian financial sector alongside the National Bank of Belgium (NBB).
Officials added a list of 28 trading platforms that they have said are fraudulent in nature, and the agency said that it issued the update based solely on the findings of the FSMA, in particular as a result of consumers reports, according to CoinDesk.
The first warning on crypto scams was issued by the financial authority in February 2018. It mentioned that people who trust suspicious-looking websites with their money “never recover the funds invested” or don’t hear anything further from the company with which they invested their money.
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