June 19, 2024

Securities Regulator Cautions Against Cryptocurrency Investments

Securities Regulator Cautions Against Cryptocurrency Investments

According to representatives of the North American Securities Management Association (NASAA), cryptocurrency investments are one of the five main threats to investors in 2020.

On Dec. 23, NASAA, the oldest investor protection agency, released a report listing the top five risky investments in 2020.In addition to cryptocurrencies, the list includes investments inreal estate, pyramid schemes, bills, as well as investment schemes that are conducted online and in social networks.

Christopher Gerold, president of NASAA and head of the New Jersey Securities Bureau, said:

Investors must be aware of what they areinvest and with whom they invest. Do not fall for promises of guaranteed high returns and for deals that rush their depositors and create a sense of limited offer.

Meanwhile, according to Cointelegraph, as of 2019, cryptocurrency fraudulent schemes cost gullible investors about $ 4.4 billion.

Based on materialscointelegraph.com