10 Million Euros Lost to Crypto Frauds in Belgium in One Year

10 Million Euros Lost to Crypto Frauds in Belgium in One Year

This week, Belgium’s Financial Services and Markets Authority made a startling revelation. Cryptocurrency fraud victims have lost at least €10 million between May 2019 and September 2020, the financial regulator said.

Belgian citizens have lost almost 10 million euros to fraudulent crypto investment schemes. Belgium’s apex financial authority, the Financial Services and Markets Authority, said on Monday. According to the watchdog, this data is from May 2019 to September 2020. Speaking about the modus operandi adopted by the scammers and crypto robbers, the FSMA said:

These platforms often use very aggressive methods to try to persuade you to invest ever larger sums. They will also try to persuade you to let them take control of your computer remotely so as to be able to make certain payments.

Adding to its statement, the regulator pointed out ‘fake advertisements that typically use images of celebrities.’ Potential victims get beguiled by platforms displaying these adverts circulating on social media. When interested folks click on them, cryptocurrency shysters call them to ‘to discuss an investment offer.’

Apart from bitcoin and other cryptocurrencies, online robbers offer investment schemes in foreign exchange products and contracts for differences (CFDs) that can be traded in markets with commodities and shares.

The FSMA had already apprised users about potential cryptocurrency frauds and scam-filled activities in 2018. Since then, it has added fake credit letters to its list of unscrupulous investment offerings. These the regulator said claim ‘to offer loans on favorable terms but intend to steal money.’ Also, investors need to stay away from fraudulent wealth management and alternative investment scams, FSMA mentioned.

As per the latest update from the cryptocurrency scene in the UK, the country’s top financial watchdog, the Financial Conduct Authority (FCA), has banned the sale, marketing, and distribution of cryptocurrency derivatives and ETNs to retail customers effective January 6th, 2021.

The FCA enumerated several reasons to justify it’s latest banning move. Volatility in crypto prices, the so-called ‘lack of inherent value,’ and inadequate understanding of cryptocurrency systems are others. But the financial regulator also specified that ‘prevalence of market abuse and financial crime in the secondary market’ is why retail players should stay away from crypto derivatives.

Also, there is no legitimate need for retail customers to invest in these products, the FCA added. The most crucial question now is: Will these measures actually block the propagation of crypto fraud and scams? Will such a ban actually protect users?

In a world where fiat and traditional market scams are dominant and much more widespread than digital currency fraud, an outright ban on different crypto investment opportunities will only do so much. What is required is tightening law enforcement on scammers and the bad actors, which will eventually make crypto investment safe for users.

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Source: cryptopotato.com


SIRIN LABS Token (SRN) Price Tops $0.0123

SIRIN LABS Token (SRN) Price Tops $0.0123

SIRIN LABS Token logoSIRIN LABS Token (CURRENCY:SRN) traded 5.2% higher against the dollar during the 1-day period ending at 0:00 AM Eastern on October 10th. One SIRIN LABS Token token can currently be bought for $0.0123 or 0.00000109 BTC on cryptocurrency exchanges including IDEX, Liqui, HitBTC and Kucoin. During the last seven days, SIRIN LABS Token has traded up 19.8% against the dollar. SIRIN LABS Token has a total market cap of $6.06 million and approximately $4.02 million worth of SIRIN LABS Token was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed during the last day:

  • Crypto.com Coin (CRO) traded down 1.5% against the dollar and now trades at $0.15 or 0.00001365 BTC.
  • Eterbase Utility Token (XBASE) traded 0.4% lower against the dollar and now trades at $2.23 or 0.00019702 BTC.
  • Huobi Token (HT) traded 1.3% lower against the dollar and now trades at $4.67 or 0.00041248 BTC.
  • Binance USD (BUSD) traded down 0% against the dollar and now trades at $1.00 or 0.00008838 BTC.
  • Aave (LEND) traded 2.5% lower against the dollar and now trades at $0.51 or 0.00004499 BTC.
  • THETA (THETA) traded 2.7% higher against the dollar and now trades at $0.75 or 0.00006655 BTC.
  • Maker (MKR) traded up 1% against the dollar and now trades at $568.79 or 0.05026832 BTC.
  • Acash Coin (ACA) traded up 0% against the dollar and now trades at $0.0789 or 0.00000864 BTC.
  • OKB (OKB) traded down 4.6% against the dollar and now trades at $6.07 or 0.00053637 BTC.
  • IOStoken (IOST) traded down 0.3% against the dollar and now trades at $0.0396 or 0.00000526 BTC.
  • About SIRIN LABS Token

    SRN is a token. It launched on October 18th, 2017. SIRIN LABS Token’s total supply is 572,166,104 tokens and its circulating supply is 491,820,906 tokens. SIRIN LABS Token’s official website is www.sirinlabs.com. SIRIN LABS Token’s official Twitter account is @SIRINLABS and its Facebook page is accessible here. The Reddit community for SIRIN LABS Token is /r/SirinLabs and the currency’s Github account can be viewed here.

    SIRIN LABS Token Token Trading

    SIRIN LABS Token can be bought or sold on the following cryptocurrency exchanges: HitBTC, YoBit, Liqui, Kucoin, LATOKEN, Bittrex, Cryptopia, Bancor Network, Allbit, Upbit, CoinExchange, Huobi, IDEX and Tidex. It is usually not presently possible to purchase alternative cryptocurrencies such as SIRIN LABS Token directly using U.S. dollars. Investors seeking to acquire SIRIN LABS Token should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase SIRIN LABS Token using one of the aforementioned exchanges.

    Receive News & Updates for SIRIN LABS Token Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for SIRIN LABS Token and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter.

    Source: weekherald.com

    Author: Rex Bailey


    6 Stimulus Packages Have Been Proposed to Provide Second Direct Payments to Americans

    6 Stimulus Packages Have Been Proposed to Provide Second Direct Payments to Americans

    6 Stimulus Packages Proposed in the US With Direct Payments for Households Waiting for Approval Before Election

    Six stimulus packages have been proposed to provide second stimulus checks for Americans. The latest proposal came from the White House on Friday. Several stimulus bills are being discussed as Americans hope to soon receive another round of direct payments to help them through the coronavirus pandemic-led economic crisis.

    Americans are waiting for Congress to pass a stimulus package with direct payments as many are suffering due to the coronavirus-led economic crisis. Since the CARES Act provided the first round of stimulus checks, a number of stimulus relief aid packages have been proposed with similar direct payments to Americans. The latest proposal came from the White House on Friday.

    After the $3.4 trillion Heroes Act which provides a second round of stimulus checks for American was stalled in the Senate, a revised version of the Act was introduced at the end of September with the same direct payment proposal. This bill, which is expected to cost about $2.2 trillion, has been approved by House Democrats. Since its introduction, House Speaker Nancy Pelosi has been in constant discussion with Treasury Secretary Steven Mnuchin on the bill.

    However, the two could not come to an agreement so far and Mnuchin proposed a $1.6 trillion stimulus package counteroffer. According to Mnuchin, his proposal is similar to a $1.5 trillion stimulus proposal by the Problem Solvers Caucus, a 50-member bipartisan group, which also provides for $1,200 direct payments to Americans.

    As talks between Mnuchin and Pelosi heated up, President Donald Trump made a surprise move to call off stimulus negotiations between Democrats and Republicans until after the election. However, hours later, he called on Congress to approve a stand-alone stimulus bill to immediately give stimulus checks to Americans. Pelosi refused to consider this stand-alone bill.

    As stimulus negotiations between Democrats and Republicans resumed, with Pelosi pushing for the $2.2 trillion Heroes Act, the White House announced Friday that it has increased its stimulus package offer to $1.8 trillion, which Trump has approved. This latest proposal also contains another round of $1,200 direct payments to Americans. Trump tweeted Friday, “Covid relief negotiations are moving along. Go big.”

    However, in a letter to her caucus on Saturday, Pelosi called the White House’s plan “insufficient” and said it amounted to “one step forward, two steps back.” Sources also told NBC News that Senate Republicans have expressed opposition to this offer in a call on Saturday with Mnuchin and White House Chief of Staff Mark Meadows. Pelosi claims that the Trump administration’s proposal lacks a strategic plan to contain the spread of coronavirus and has inadequate funding for state and local governments and financial relief for American families.

    Time is running out for Congress to pass a stimulus package before the November presidential election. Senate Majority Leader Mitch McConnell said Friday that a coronavirus stimulus relief aid approval is “unlikely in the next three weeks.” Not only must Pelosi and Mnuchin agree on a deal and finalize a stimulus bill, but the bill would also have to go through both the Democratic-held House and GOP-controlled Senate.

    Federal Reserve Chairman Jerome Powell urged Congress last week to pass more fiscal stimulus. He warned that failing to do so could “lead to a weak recovery, creating unnecessary hardship for households and businesses,” emphasizing his view that Congress had a limited risk of “overdoing” relief.

    What future awaits cryptocurrencies?
    GOODBAD

    Meanwhile, Pelosi has questioned Trump’s health following the president testing positive for coronavirus. She indicated her intention to discuss the 25th Amendment which allows for the vice president to become acting president if it is determined that the president “is unable to discharge the powers and duties of his office.”

    Do you think a stimulus package will be approved before the election? Let us know in the comments section below.

    The post 6 Stimulus Packages Have Been Proposed to Provide Second Direct Payments to Americans appeared first on Bitcoin News.

    Source: cryptomoneyteam.co

    Author: By TeamMMG


    ETHUSDT 10/12/2020

    ETHUSDT 10/12/2020

    ETHUSDT 10/12/2020

    Analysis

    1W
    The overall outlook is bullish . Hidden Bullish Divergence on RSI and Stoch RSI while MACD is undecided but MACD Histogram has an unconfirmed bullish convergence. The Price is above on all Moving Averages. Likely, to test those resistance above at $ 380.00 and $ 451.00.

    1D
    The Price is now above MA 5, a possible bullish continuation in the next days but very close to resistance above. EMAs (9,21,34) has bullish crossover. Now, waiting for EMA 9 and MA 50 to crossover. SMMA 60 is holding as support. MACD , RSI and Stoch RSI has bullish convergence.

    4 HR
    In the chart.

    1 HR
    Price may go lower to moving averages or to Fibonacci Levels

    ______________________________

    Donation (It’s up to you)
    If you want send some crypto, I accept Bitcoins .
    1J6QyeubuTtDd9vs7B7kFhmSzjWM1K827T
    _______________________________________________

    Published at Mon, 12 Oct 2020 07:34:18 +0000

    Source: thebitcoinstreetjournal.com


    10 Million Euros Lost to Crypto Frauds in Belgium in One Year


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