Saudi Arabia Warns of Crypto Scammers Posing as Gov’t Projects

Saudi Arabia’s Finance Ministry has warned against crypto tricksters using the kingdom’s official emblem to promote tokens that purport to be tied to government projects.

Arab News reported on Aug. 21 that the ministry has identified a Singapore-based company promoting two fraudulent cryptocurrencies, dubbed “CryptoRiyal” and “SmartRiyal.” 

Fraud alert: hype and pump

CryptoRiyal and SmartRiyal’s promoters are reportedly claiming that their cryptocurrency project’s ultimate goal is to finance NEOM — a smart city and tourism hub currently under construction in the north of Saudi Arabia. 

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China's Central Bank Warns Investors of ICO, Crypto Risks

China’s central bank, the People’s Bank of China (PBoC), has today, September 18, issued a new public notice “reminding” investors of the risks associated with Initial Coin Offerings (ICOs) and crypto trading.

The notice, released from the bank’s headquarters in Shanghai, reiterates the severe line that has been adopted by the country’s Office for Special Remediation of Internet Financial Risks,

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Vietnam's Securities Regulator Warns Industry to Avoid Crypto Activities

Vietnam’s securities regulator has warned industry companies and funds in the country to avoid activities related to cryptocurrencies.

In an announcement this week, Viet Nam News reported Wednesday, the State Securities Commission (SSC) said firms should avoid issuance, transactions or brokerage of cryptos, adding that they must observe laws on money laundering.

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