Belgium Expands List of Fraudulent Crypto Platforms

Belgium Expands List of Fraudulent Crypto Platforms
Belgium’s Financial Services and Markets Authority has expanded its list of unauthorized and potentially fraudulent crypto companies operating in the country. The financial watchdog has recently published a new warning noting that “the FSMA is receiving an increasing number of consumer complaints regarding investments in cryptocurrencies [and] once again warns the public about these platforms, often operated by fraudsters who are now resorting to cryptocurrencies to swindle consumers.” The regulator also said that people who have invested through these platforms often complain they never recover their funds.
In March, the FSMA published its first list of 19 suspicious crypto platforms saying it had received “questions or complaints from consumers and has established indications of fraud,” as news.Bitcoin.com reported. The agency stressed that the compilation does not include all questionable crypto trading platforms, but only those whose fraudulent practices have been reported by consumers. Last week the Belgian financial authority reminded investors that these companies usually claim to offer the best trading platforms for both beginners and professionals.