certify
Home arrow Article arrow Article Detail

American Securities Body NASAA says crypto scams are the top threat to investors in 2022

Profile Image

Indrani bose Follow

INDIA

Jan, 13 2022

Jan, 13 2022

likes | comments 0

Article Image

According to a survey was done by U.S. state securities regulators North American Securities Administrators Association (NASAA) investments done to cryptocurrencies and digital assets hold a top threat to investors in the market in 2022. On Monday, the regulators released its cryptocurrency investments list of top investor threats this year.

The American securities regulators did this annual survey to identify the most problematic products, practices, or schemes. The association asks investors to be careful regarding false schemes and other frauds before paying for popular and volatile unregulated investments including cryptocurrency and digital assets. As per new data from NASAA these investments are a top threat to investors “by far,”. Enforcement Section Committee Co-Chair Joseph P. Borg, Alabama Securities Commission Director said “Stories of ‘crypto 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,”. As the market experiences, greater adoption of crypto scams can lead to a devastating situation.

The NASAA explained that Digital assets don’t properly come under the existing investor regulatory framework which makes it easier for the promoters of this product to cheat the public. There is some sort of risk involved in all investments and part of the investment could get lost.

Texas State Securities Board Enforcement Division Director Joseph Rotunda made people aware referring crypto industry as extremely risky speculation with a high risk of loss. He urges people to be aware regarding investment in cryptocurrency through various trading programs, made alerts against crypto mining pools and crypto depository accounts, and securitized tokens.

About NASAA:

in 1919, a non-profit association of securities regulators in the U.S Canada, and Mexico was formed. It comprises of 67 members along with securities regulators in all 50 U.S. states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

 


likes | comments 0

Profile Image

Indrani bose

CBW - External Analyst

INDIA

Comments
Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.