Share this article
Austrian Regulator Reports Rise in Crypto Fraud
The FMA reports two-thirds of the investment fraud reports filed in 2020 were related to cryptocurrency and digital currency trading products.
Updated Sep 14, 2021, 12:14 p.m. Published Feb 19, 2021, 5:36 p.m.
Austria’s Financial Market Authority (FMA) said Friday there has been an increase in crime using cryptocurrencies and stricter regulation is needed.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The FMA reports two-thirds of the investment fraud reports filed in 2020 were related to cryptocurrency and digital currency trading products, according to a Bloomberg report.
- “We see a great need for stricter regulation,” FMA spokesman Klaus Grubelnik told Bloomberg. “Fake offerings for stocks and gold have been around forever and these scams are now shifting to digital assets because of the hype.”
- There has been an increasing number of scams using digital currencies advertised on social media platforms such as Facebook, WhatsApp, TikTok, and Telegram, warned the FMA.
- Grubelnik said prosecution was even more difficult in such cases as investigations usually have to be conducted across borders.
Read more: Leading Austrian Telecom Provider Adds Cryptocurrencies to Its Cashless Payment Network
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin heads for its worst Q4 since 2018 as traders see further fatigue
Data from CoinGlass shows bitcoin is down more than 22% so far in the fourth quarter, making 2025 one of the weakest year-end periods outside of major bear markets.
What to know:
- Bitcoin's price is nearing $90,000, offering a short-term boost to the crypto market, but analysts remain cautious about a significant recovery.
- The total crypto market capitalization has surpassed $3 trillion, yet analysts warn that the rebound may be driven by exhaustion rather than renewed confidence.
- Bitcoin remains about 30% below its 2025 peak, with the market still vulnerable to sharp reversals, particularly during U.S. trading hours.
Top Stories
