EU financial watchdogs have warned of a rise in scams after fraudsters began exploiting the Markets in Crypto-Assets (MiCA) regulation by impersonating crypto firms and regulators.
The Financial Times reported Thursday that EU officials said scammers are targeting users of crypto exchanges that failed to secure authorization by the July 1 deadline under MiCA.
Exchanges that secured MiCA authorization can operate across the EU under a single regulatory regime, while crypto firms left without licenses must wind down or restrict services to EU clients.
The moment has presented "an opportunity for scammers more than usual," said Stéphane Pontoizeau, executive director of the market intermediaries and market infrastructure supervision directorate at Autorité des Marchés Financiers (AMF), the French financial regulator.
Pontoizeau said the watchdog has identified cases where suspects posed as AMF staff and told customers to transfer their assets to fraudulent websites.
