Scam Doctor: Belgian Government Launches Crypto Scams Warning Website

[Goodcat49]

The Belgian government is giving full support to a website that is created to warn all cryptocurrency investors about the rising potential for fraud. The website is dubbed “Too Good to Be True.”

In order to legally operate in Belgian financial markets, all cryptocurrency organisations or companies should have a legal license, according to the developed website. No company without a license shall be mentioned in the website's database.

The developed website is being partially manned by Belgian Federal Public Service Economy and the Financial Services and Markets Authority.

Since tokens can be easily developed, they can be poorly mismanaged and spent in unlawful activities. Therefore, responsible authorities are critically citing the dangerous side of tokens plus all illegal functions such as drug trafficking, scams, terrorism and many more bad activities.

The well-developed website warns about the possible signs of potential fraud activities that are linked to the cryptocurrency space.

The website goes further to offer extra advise that any human being planning to fund a token sale should make a thorough research on the person behind a project, ask for clear information about the project, be careful if a project promises large returns and avoid sharing any personal information.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/belgiam-launches-crypto-scams-warning-website/

[altcoingamer]

Pretty cool, the SEC in the USA i heard do the same thing, hopefully some of these examples really stick the message home.

[felixesteban]

It is a very good development to carry out such studies to raise awareness of people. Most people unfortunately choose to invest without doing research, but what is forgotten is that almost 80 percent of the projects, especially the ICO's are scam. Therefore, it is very important that governments struggle against fraud cases in different ways.