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According to the watchdog, this data is from May to September 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.

The FSMA had already apprised users about potential cryptocurrency frauds and scam-filled activities in Since then, it has added fake credit letters to its list of unscrupulous investment offerings. Also, there is no legitimate need for retail customers to invest in these products, the FCA added.

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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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