Dubai Regulator Cripto Cheats warns of memories promotions

Virtual property regulator issued public warning warning to investors from Meme courceal ads due to its high nature.

Cripto Dubai Regulator Virtual assets Regulatory body issued a warning of this meme coin Promotions as memes coins do not show signs of popularity loss. At 13. February public alertCheats, which oversees the Virtual Sector of Assets in Dubai, warned investors on risks related to these tokens, including price manipulation, liquidity and potential fraud issues.

“Mema coins are very speculative and volatile assets, which often are subject to market manipulation. Many such funds lack essential value and get their prices from trends of social media, hyper or wrong promotional strategies.”

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Vara warned that promises of huge profits are often a red flag for fraud, adding that a memena trade can be risky, and prices are dried and carpeted. “There is a risk of significant financial loss in short time framework due to demolished prices, liquidity or fraud shortages,” said the regulator.

The UAE first mentioned permissions for cryptocurnancy issuing cryptocurnence in February 2022. years. A year later, Dubai rolled the regulations for the CRIPTO company, which needed to receive approval and real licenses for work and real permits. There are also special rules for activities such as tokens, offering consultation, provision of storage and operational services. From time to print, the Market Capitalization of Meme is $ 81.1 billion, according to COINGECK data data.