{"id":182878,"date":"2021-02-19T14:40:59","date_gmt":"2021-02-19T11:40:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/austrian-regulators-call-for-stricter-crypto-regulations-amid-rising-fraud\/"},"modified":"2021-02-19T14:40:59","modified_gmt":"2021-02-19T11:40:59","slug":"austrian-regulators-call-for-stricter-crypto-regulations-amid-rising-fraud","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/austrian-regulators-call-for-stricter-crypto-regulations-amid-rising-fraud\/","title":{"rendered":"# Austrian regulators call for stricter crypto regulations amid rising fraud"},"content":{"rendered":"<p>&#8220;<strong># Austrian regulators call for stricter crypto regulations amid rising fraud <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMGU5MjdlNjUtMTM3ZS00ZDc3LWFhZmUtMTYwMmExODhiMDcxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Austrian regulators are calling for stricter crypto laws amid a spate of elaborate investment scams involving cryptocurrency and digital assets.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-19\/austria-finance-regulator-sees-frauds-rising-amid-crypto-hype\">According<\/a> to a Bloomberg report of Friday, Austria\u2019s Financial Market Authority has revealed that more than 60% of all reported financial fraud in the country involve crypto trading products.<\/p>\n<p>The FMA says these crypto scammers are using <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> platforms like Telegram and TikTok to advertise their fraudulent offerings to would-be victims.<\/p>\n<p>Commenting on the need for stricter crypto regulations to curb the menace of these fraudulent investment activities, Klaus Grubelnik, a spokesperson for the FMA remarked:<\/p>\n<blockquote><p>\u201cWe see a great need for stricter regulation. Fake offerings for stocks and gold have been around forever and these scams are now shifting to digital assets because of the hype.\u201d<\/p><\/blockquote>\n<p>The surge in crypto scam whistle-blower reports in 2020 could be linked to a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> increase in cryptocurrency-related fraud amid the onset of the coronavirus pandemic last year.<\/p>\n<p>Back in 2018, Austria\u2019s finance minister Hartwig L\u00f6ger called for pan-European Union crypto regulations to combat money laundering.<\/p>\n<p>At the time, L\u00f6ger\u2019s comments came amid the recently discovered Optioment Bitcoin pyramid scheme that siphoned over 12,000 Bitcoin (BTC) from the victims of the scam.<\/p>\n<p>Despite the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent increase in reported crypto scam investments in Austria, traditional exchanges in the country are still at the heart of boosting the adoption of digital asset trading.<\/p>\n<p>Platforms like the Vienna Stock Exchange have listed a variety of crypto exchange-traded products, a marked departure from the situation in the United States, where regulators are yet to allow the trading of crypto exchange-traded funds.<\/p>\n<p>Apart from regulated trading, crypto payments are also making a splash in Austria with A1 Payment, one of the country\u2019s largest mobile network operators, enabling a cryptocurrency payment option back in July 2020.<\/p>\n<p>On the blockchain adoption front, the Iota Foundation partnered with the Vienna University of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> in November 2020 to explore research activities in distributed ledger technologies.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/austrian-regulators-call-for-stricter-crypto-regulations-amid-rising-fraud\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Austrian regulators call for stricter crypto regulations amid rising fraud &#8221; Austrian regulators are calling for stricter crypto laws amid a spate of elaborate investment scams involving cryptocurrency and digital assets. According to a Bloomberg report of Friday, Austria\u2019s Financial Market Authority has revealed that more than 60% of all reported financial fraud in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":182879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMGU5MjdlNjUtMTM3ZS00ZDc3LWFhZmUtMTYwMmExODhiMDcxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[71125,71006,70934,71101],"class_list":["post-182878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-austria","tag-fraud","tag-regulation","tag-scams"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/182878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=182878"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/182878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/182879"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=182878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=182878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=182878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}