Dubai Police About To Combat Crypto Fraud By Partnering With A Cryptocurrencies Firm
Now this is a country that knows how to utilize an opportunity when they see one. The country is creating a safe space for crypto users by allowing the country’s official police partner with a crypto firm to teach crypto investors on how to identify and avoid crypto scams.
Few weeks ago the country agreed with some regulatory authorities to fully support crypto trading.The support gives approval and license to any business that wants to get involved with cryptocurrencies. This is because they believe in cryptocurrency and the blockchain technology and they want to utilize the opportunity now it’s at it’s early stage. I won’t call the current stage we are in cryptocurrency the earliest stage because a lot of things have happened within its short time of existence. This is because of the rate at which the world adopts technologies so fast.
As crypto adoption gets higher day by day, the rate of crypto scam increases also, because just as people are getting smarter everyday in making money legally, we also have people who are also getting smarter everyday to learn how to steal this money from them. Countries have used criminal use as an excuse to ban or discredit cryptocurrencies, but the truth is, currently, cryptocurrencies have done more good for people than harm. So while other countries see cryptocurrencies as the competition, Dubai sees it as a great investment opportunity. What other way can we protect our investment, if not to teach investors ways to protect their funds.
The country got approximately 6,800 cryptocurrency scam complains within October 2020 and March 2021 and decided to create a solution to that problem. The Dubai police will be partnering with a cryptocurrency firm called, BitOasis to tackle cryptocurrency fraud. But how can it be tackled without educating the investors first? Well that’s going to be the number one priority behind the partnership. Cryptocurrency Investors and traders will be highly educated about crypto fraud, this will help reduce the rate at which investors will fall for crypto scams first and in turn reduce further future works for the police. Because when crimes like this get reported, the police will try to investigate the fraudulent activities and that will require a lot of time and effort from the police.
source
Posted Using LeoFinance Beta
Congratulations @readthisplease! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz:
Now, this is a Country. They didn't let the glitches deter them because they see the bigger picture. This is the easiest form of investment right now that has the most profitable returns. I just wish these idiots would see that. Or maybe they do see it and what it means for this country (financial freedom),and they don't want it. I won't be surprised.