Malta’s Financial Regulator Issues Guides on Crypto Assets, Scams

Malta’s Financial Regulator Issues Guides on Crypto Assets, Scams

The Malta Financial Services Authority’s (MFSA) new guidance note intends to warn the public about cryptocurrency investments and related risks, and educate people on how to identify and avoid scams and fraudulent schemes. The guidance outlines the most common types of digital currency-associated scams, which include fake initial coin offerings (ICOs), crowdfunding ventures promising higher gains which are availed of once the coin becomes active, and fake exchange platforms and fake e-wallet apps.

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