The Spanish Securities Regulatory Authority issued a strong warning to investors in the cryptocurrency markets after the collapse of the famous cryptocurrency platform FTX, as the vice president of the authority, Martinez Barrera, confirmed that the lack of control over the cryptocurrency market is one of the reasons for the collapse of the cryptocurrency exchange FTX. .
The Spanish official added that anyone looking at cryptocurrencies as an investment should be very careful due to the industry’s lack of regulation, and that the approval of the MiCA system, a digital currency framework now being discussed in Europe, must be waited for in order to get more. Clarity on how to regulate cryptocurrency investments.
At the same time, the vice president of the Spanish Securities Regulatory Authority criticized the way some cryptocurrency platforms are used to intentionally help influencers to advertise their services by announcing that they will provide great returns to their audience and this attracts a large segment of investors.
It should be noted that the Securities Regulatory Authority in Spain warned earlier about theft of funds using the digital currency Bitcoin, as the warning indicated that there are some unknown parties that use phone calls to contact and request data from Spanish citizens with a fake offer to sell Bitcoin.