Montserrat Martínez Parera, Vice President of the National Securities Market Commission (CNMV)argued in some statements that problems in the cryptoactive sector such as the FTX bankruptcy, deep down have their origin in the lack of regulatory controls.
In this sense, the official once again insisted that investors must be very careful when approaching unregulated sectors such as crypto assets.also pointed out that innovation misused or lacking some controls leads to undesirable practices, and that even investing in some areas has come to be seen as a game.
“We use the term gamification, but they are techniques more typical of video games, deep down there is an addiction component, and they promise you certain earnings in a very short space of time: we know that this is not sustained and we have seen it in the field of crypto assets”pointed out Martinez, who on the other hand, also stressed that information is not the same as knowledge and one must be able to differentiate the wheat from the chaff.
“We have to see what the reliability of that information is and avoid falling into fraud and hoaxes that can be made in this new world, which unfortunately exist and are very present”he mentioned.
Having said that, Martínez Parera called for the need to be cautious with the information offered on social networks by some influencers. “I am surprised when sometimes some ‘influencers’, in a video of less than a minute, tell you how to get rich”he commented.
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