Securities regulators should have the power to demand foreign crypto sites be taken down, the International Organization of Securities Commissions (IOSCO) said in a Wednesday report.
The proposals from the standard-setter are the latest in a series of crypto crackdowns based on worries over money laundering, tax evasion, financial stability, and the rise in financial advice dished out by novel sources like social media influencers.
Apps use techniques taken from mobile games to trick people into buying inappropriate financial products, and financial influencers, also known as finfluencers, offer investment advice without the correct license, IOSCO also warned. Reality TV star Kim Kardashian recently paid $1.26 million to settle U.S. Securities and Exchange Commission charges that she hyped the EthereumMax token on Instagram without the appropriate disclosures.
Financial services are going online and rules need to adapt, the report said. The Madrid-based organization, whose members...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...