The International Organization of Securities Commissions (IOSCO) started to discuss the risks of investment advice given for cryptocurrencies on social media and how to combat these risks.
IOSCO in its advisory report released today “Social media that individual investors are increasingly using as a source of information” discussed the platforms and the problems they may cause.
social media platforms false rumors frequently on these platforms, where it can be used to disseminate unlicensed where investment advice is given, social media phenomena can influence their decisions and these platforms for fraudulent purposes specified can be used.
In the number of phenomena that share financial a huge increase IOSCO, noting that there is a unlicensed phenomena stressed that he made an investment decision by listening to to be conscious called.
IOSCO; It prepares global standards and policies on how securities markets can be regulated. Among its members is the Capital Markets Board (CMB).
In IOSCO’s advisory report, “The impact of social media on the behavior of individual investors has been generally negatively received by IOSCO members and many concerns have been expressed about it.” statement, worldwide regulatory bodies posts on social media whether it should follow up more actively, how this can be achieved topics were discussed.
In addition, the report contains cryptocurrencies. high price volatility, security breaches and fraud More general risks such as