NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

FMA in Austria Issue Warning against Fradulent Virtual Rs Scheme

Gautham
Gautham
4 years ago
2 mins read
Bitcoin Alert System

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Austrian finance watchdog Financial Market Authority (FMA) is a bit late to the game. The regulatory body has issued a warning against the use of virtual currencies, including Bitcoin. The latest warning is similar to the words of caution used by various central banks and government institutions across the world. While rest of the regulatory and governance bodies issued the warning way back in 2014, FMA has decided to do at a time when Bitcoin is gaining popularity among masses.

The warning, however, is in response to rising incidents crypto-frauds, especially the high yield investment schemes. The FMA’s recent statement advises extreme caution while dealing with virtual currencies and investment models built around them. As the virtual currency sector is unregulated and unsupervised, investors are vulnerable to abuse and fraud. It also means that the investors are not eligible to receive any compensation for damages or losses incurred from investing in virtual currency-based schemes.

There are many instances where people have fallen prey to Bitcoin-related pyramid scams and Ponzi schemes. MMM Global, run by notorious Sergei Mavrodi is one such scam at a global level where investors, in spite of knowing the history of the company, have deposited their earnings – only to lose it.

It is not just the FMA which is currently investigating these investment schemes within Austria. The good samaritans within the Austrian Bitcoin community is also spreading awareness about fraudulent investment schemes.

FMA, jointly with the public prosecutor is currently evaluating the business models of cryptocurrency investment schemes to determine whether they constitute a criminal offense.

It is always advisable for potential investors to do a thorough research about the investment schemes by reading reviews and even enquiring about it within the local cryptocurrency community before investing. Also, the schemes which are too good to be true are generally scams and it serves better to stay away from them.

Ref: Tiroler Tageszeitung | Image: Shutterstock
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

criptomonede cu potential

În ce criptomonede cu potențial investim pe final de septembrie?

De fiecare dată când Bitcoin și Ethereum sunt relativ aproape de ATH-uri, cum este în acest moment, majoritatea investitorilor vorbesc...

antonio 2 hours ago
Solana

Solana DATs Arrive In Australia: Fitell Corporation Announces $100M SOL Treasury Strategy

As Solana attempts to reclaim the $220 level as support, an Australian-based firm has joined the trend of Digital Asset...

Rubmar Garcia 4 hours ago
Bitcoin

Bitcoin Dip-Buy Calls Spike: Why This Could Actually Be Bearish

Bitcoin has seen “buy the dip” mentions spike on social media after the price crash, but Santiment warns this could...

Keshav Verma 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin news

Bitcoin Will Soak Up Trillions From China And Russia, Billionaire Predicts

Jake Simmons 12 minutes ago
중국 첫 공식 스테이블코인 출범…베스트월렛 프리세일 투자 금액 급등

중국 첫 공식 스테이블코인 출범…베스트월렛 프리세일 투자 금액 급등

Soyeon Lee 17 minutes ago
Bitcoin crash

These Analysts Predicted The Bitcoin Price Crash And Their Forecasts Say It’s Not Over

Scott Matherson 1 hour ago

Premium Sponsors

Press Releases

  • Az altcoin szezon itt van. Ez a három tényező hajthatja a bikapiacot

    Az altcoin szezon itt van. Ez a három tényező hajthatja...

    10 hours ago
  • Sezon na altcoiny już tu jest. Te trzy czynniki mogą napędzać hossę

    Sezon na altcoiny już tu jest. Te trzy czynniki mogą...

    12 hours ago
  • Sezonul altcoin este aici. Acești trei factori sunt văzuți ca motoare ale raliului

    Sezonul altcoin este aici. Acești trei factori sunt...

    16 hours ago
  • ドージコイン 今後の価格予測:ウォールストリートが注目する「1ドル圏」への道

    ドージコイン...

    18 hours ago
  • Сезонът на алткойните е тук. Три фактора се очаква да задвижат ралито

    Сезонът на алткойните е тук. Три...

    18 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.