A warning to investors about potential cryptocurrency scams has been jointly issued by the US Securities and Exchange Commission ( SEC ) and Commodity Futures Trading Commission ( FCC ) . The SEC and the CFTC also urged potential crypto investors to check Investor.gov to cross-reference the licenses of any scheme operators with the SEC’s official database, as any investment that is unregistered or unlicensed is most likely a scam. The scams involve fraudsters posing as crypto trading businesses and collecting funds from investors . After investments are made , victims often never hear from the perpetrators again . The agencies have provided six warning signs for identifying when schemes may be a fraud , including offers of guaranteed high returns and sellers lacking a licence . The agencies are encouraging investors to cross - reference scheme operators with the SEC 's official licence ##s , noting unlicensed investments likely represent a scam .
A warning to investors about potential cryptocurrency scams has been jointly issued by the US Securities and Exchange Commission ( SEC ) and Commodity Futures Trading Commission ( FCC ) . The scams involve fraudsters posing as crypto trading businesses and collecting funds from investors . After investments are made , victims often never hear from the perpetrators again . The agencies have provided six warning signs for identifying when schemes may be a fraud , including offers of guaranteed high returns and sellers lacking a licence . The agencies are encouraging investors to cross - reference scheme operators with the SEC 's official licence ##s , noting unlicensed investments likely represent a scam .