Belgian Website to alert Crypto Investors about Scams

Belgium authorities are supporting a new website constructed for the unsuspecting public to notice attributes of a possible crypto scam on the Internet
06 June 2018   919

The title ‘Too Good To Be True’  admonish the investors that practically everyone could create a crypto token and thus make it the “hype of the year.” It might be applied for “scams, drug trafficking, terrorism or any other criminal activity’’ and therefore it is necessary to be vigilant to see the signs of a potential fraud. The country doens`t have different regulations for cryptocurrencies as it is considered to be the other forms of digital money.

As crypto scammers seem so reliable, it is claimed that anyone looking to fund an Initial Coin Offering should research the people behind the project, which usually pledges great returns. It is also recommended to be careful with the site when “paying online with cryptocurrencies, investing in sports betting with crypto coins, and other platforms for investments in virtual currencies.” 

Another prominent feature on the website is a search bar that the developers assure they can help internet users to find out whether a website is fraudulent or not. This field will likely be filled with user-reported websites as a notice added to the checker service affirms that its developers would not be held responsible for any errors. 

The video includes of testimonial from individuals who became the victims of crypto scammers on the Internet, a highly informative FAQ page, and a ‘report case’ form sum up the other features of the website. The Belgian Federal Public Service Economy and the Financial Services and Markets Authority contributes to the new website as part of an initiative by the Belgian government to create public conversance about cryptocurrencies.

There is also a list of 19 crypto exchanges with presented fraud occasions by customers and warned against investment by members of the public.

Binance to Launch Crypto-Fiat Exchange at Jersey

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs
16 January 2019   72

Binance has opened a branch at Jersey island, targeting Europe and the UK. Its clients will be able to trade Bitcoin and Ethereum for the euro and the British pound. 

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs. To start trading, users must undergo KYC verification.

According to Binance CFO Ju Wei, bidding cryptocurrencies for fiat money will provide Europeans with new opportunities in the face of uncertainty with Brexit affecting the euro and the pound.

Wei also stressed that a strong legal framework makes Jersey one of the leaders in the development of blockchain technology.