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FMA Warns Against Crypto Fraudsters and Impersonators

The Financial Markets Authority (FMA), New Zealand's regulatory market watchdog, issued two crypto scam warnings on Monday, alerting against a potential charge of non-existent fees and unregulated activity.

According to separate press releases published on 12 December 2022, Krypto Security and Bay Exchange are contacting New Zealand citizens to offer access to cryptocurrency services. However, none of these companies are regulated by the FMA.

(By Damian Chmiel)

Crypto
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