German regulator BaFin issues warning on social posts on crypto assets

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/02/BaFin-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/02/BaFin-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/02/BaFin-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/02/BaFin-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/02/BaFin-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/02/BaFin-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/02/BaFin-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/02/BaFin.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>Moreover, BaFin highlighted that there are many investment tips circulating on social media about crypto stocks and other financial products which are not reliable. They may even be false, misleading or fictitious.</p>
<p>BaFin stated in the official warning:</p>
<blockquote><p>Digital, lucrative and trendy: this is the image that crypto assets now have among private investors. However, they should not be blinded by promises of high returns and fantastic-sounding investment tips about crypto assets. Caution is especially advised when it comes to recommendations in social media.</p></blockquote>
<p>In December last year, <a target="_blank" href="https://www.leaprate.com/tag/bafin/" rel="noopener">BaFin</a> announced its investigation in trading platform <a target="_blank" href="https://www.leaprate.com/forex/regulations/bafin-investigates-trading-platform-coinstrades-com/" rel="noopener">coinstrades.com</a> as the website had not been granted authorisation to conduct banking business or provide financial services.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/cryptocurrency/regulation-cryptocurrency/german-regulator-bafin-issues-warning-on-social-posts-on-crypto-assets/">German regulator BaFin issues warning on social posts on crypto assets</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>