<div>

Belgium’s Financial Services and Markets Authority updated its crypto-related fraud blacklist to total of 120 websites.
<p dir="ltr">Belgium’s Financial Services and Markets Authority (FSMA) has updated a blacklist of crypto-related websites associated with fraud, according to an official statement on April 4.</p>
Following a previous crypto-related scam blacklist update in December 2018, the FSMA has added seven new crypto trading platforms where it has found signs of fraud.

The blacklist now includes a total of 120 websites.

In the statement, the financial authority noted that it continued to receive new complaints of consumers who invested in cryptocurrencies on those trading platforms, adding that crypto fraud is still taking place in Belgium.

Similar to the previous update, the FSMA wrote that the list of crypto-related websites is based solely on the findings of the authority, in particular as a result of user reports. The regulator warned that the blacklist does not include all the companies that might be operating illegally in Belgium in the crypto industry.

Last year, Belgian financial authority FPS Economy (FPS) launched a website to raise awareness of the risks associated with crypto investment. According to the FPS, Belgian investors reported losses of about $2.5 million in crypto scams in 2017, which is evaluated to account for only four percent of overall crypto fraud cases, with the total losses estimated to amount to $152 million.

Yesterday, the European Union launched the International Association of Trusted Blockchain Applications (INATBA) in Brussels, Belgium. The new blockchain alliance’s charter was signed by more than 100 members including global tech giant IBM, Accenture and Deutsche Telekom, as well as blockchain-related firms such as Ripple, Iota and ConsenSys.

</div>
<a href="https://cointelegraph.com/news/belgiums-financial-watchdog-updates-crypto-related-blacklist-to-total-of-120-websites" target="_blank" rel="noopener">Go to Source</a>
Author: Helen Partz

Belgium’s Financial Watchdog Updates Crypto-Related Blacklist to Total of 120 Websites

The dynamics of Crypto Fraternity is changing at a lightning speed. Access to most critical information in a timely and curated manner is extremely critical for the health of your investments. Cryptoknowmics is the fastest platform to bring and deliver news and critical information from above 3000 sources at your fingertips. We cover almost all aspects of cryptoworld from exchange, tokens, coins, dapps, ICOs, IEOs, STOs, events, airdrops, jobs, services, wallets, etc. We strive to be the complete solution for your crypto needs.

Belgium’s Financial Watchdog Updates Crypto-Related Blacklist to Total of 120 Websites

Top Picks