(MENAFN– IANS)
New Delhi, Jan 12 (IANS) Cryptocurrencies and digital assets will be the top investor threat in 2022 and before you jump into the crypto craze, be mindful that cryptocurrencies and related financial products may be nothing more than public facing fronts for Ponzi schemes and other frauds, a top US non-profit organisation has warned.
According to a new report from the North American Securities Administrators Association (NASAA), cryptocurrency scams are the number one top investor threat ‘by far.’
‘NASAA’s securities regulators revealed that investments related to cryptocurrencies and digital assets is our top investor threat,’ said Enforcement Section Committee Co-Chair Joseph P. Borg, Alabama Securities Commission Director.
‘Stories of acrypto millionaires’ attracted some investors to try their hand at investing in cryptocurrencies or crypto-related investments this year, and with them, many stories of those who bet big and lost big began appearing, and they will continue to appear in 2022,’ he said in a statement.
The most common telltale sign of an investment scam is an offer of guaranteed high returns with no risk.
‘It is important for investors to understand what they are investing in and with whom they are investing,’ said Melanie Senter Lubin, NASAA President and Maryland Securities Commissioner.
Digital assets do not fall neatly into the existing investor regulatory framework, and it may be easier for the promoters…
