Fraudsters are impersonating financial regulators and crypto businesses to target customers of crypto service providers that have failed to secure European Union licenses, according to officials cited by the Financial Times.<\/p>\n
Several of the bloc\u2019s watchdogs have<\/a> reportedly seen an increase in scams since the July 1 deadline<\/a> that required firms to obtain authorization under the Markets in Crypto-Assets (MiCA) Regulation. Companies that failed to secure approval must wind down or transfer their EU operations, forcing customers to move their assets.\u00a0<\/p>\n St\u00e9phane Pontoizeau, an official at France\u2019s Autorit\u00e9 des March\u00e9s Financiers (AMF), said the regulator encountered cases in which fraudsters impersonated AMF representatives, directing users to transfer assets to them through fake websites.\u00a0<\/p>\n The European Securities and Markets Authority (ESMA) said it was aware of scammers misusing its identity and logo, including through falsified documents. The regulator warned that criminals may target customers searching for an alternative licensed provider.<\/p>\n According<\/a> to an ESMA list updated at the end of July, only 323 crypto companies had obtained licenses. Data provider VASPnet previously estimated<\/a> that more than 1,700 unlicensed companies would need to cease operations.<\/p>\n Related: <\/strong><\/em>Binance faces EU service limits next week as MiCA rules take effect<\/strong><\/em><\/a><\/p>\n Related:<\/strong> Bitcoin price<\/a> \u00b7 BTC live chart<\/a> \u00b7 Ethereum price<\/a> \u00b7 ETH gas fee<\/a> \u00b7 Bitcoin price today<\/a> \u00b7 Top 10 cryptocurrencies<\/a><\/p>\n