NASAA Says Cryptocurrency Investments Are Leading Investor Threat in 2020
The North American Securities Administrators Association (NASAA) was established a long time ago and is an organization that deals with global investor protection. The organization has revealed that crypto investment is one the leading five investor threats for the coming year.
The announcement by the organization stated the leading five products or schemes possible to defraud investors in 2019. The report was gathered through a survey of the state and provincial securities regulators within the U.S., Canada and Mexico.
The organization provided the report on December 23 and it used the complaints of investors, current investigations and regulatory trends to predict the leading five schemes possible to ensnare investors in the coming year.
Aside investments related to cryptocurrencies, the leading areas of concern for the coming year are likewise promissory notes, real estate investments, Ponzi schemes, and online and social media investment schemes.
According to the president of the organization known as Christopher Gerold, there is no investment that guarantees a return; every investment carries risk. He warned investors to be more careful and not listen to people who promise guaranteed high returns.
The organization has been looking after cryptocurrency markets activities based on its basic goal of protecting consumers who buy securities. As of June last year, the organization had launched more than two hundred investigations on investment products related to cryptocurrencies and ICOs. This is in line with its current initiative “Operation Cryptosweep.”
The organization in previous times warned Main Street investors against the risks related to cryptos and ICOs.
Featured image courtesy of Shutterstock. Source: CryptoPress.