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Repression is approaching when players are hooked on bitcoin

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rypto platforms face regulatory repression amid growing calls for tighter digital currency trading rules.

Matt Zarb-Kazin, founder gambling The Gamban website blocking service said: “I think so Office of Financial Control we need to understand what is considered investment and what is speculation, and I think that regulators are obliged to provide adequate information to consumers. “

According to GamCare gambling consultants, there has been a marked increase in calls from people who have stopped gambling and registered on self-exclusion sites but are now investing in cryptocurrency instead.

Subscribers reported inflicting huge losses on investments, and wanted to talk to an advisor about the guilt they felt because of the loss of money.

Earlier in May, cryptocurrency Luna collapsed, leaving investors losing a total of $ 40 billion, while the value bitcoin fell 40% from a peak in November.

One of those who called the charity said: “I watched the trading programs almost 16 hours a day.

“I continued to invest my money and chase losses, while lying to my family about how I was doing.

“On Friday night, I was afraid of the weekend because I couldn’t trade. Then I realized that it was no longer a trade – I had problems with gambling.

According to a Gamban poll, more than 50% of regular players trade cryptocurrencies.

Zarb-Kazin said: “These platforms are focused on overtraining: forcing people to constantly change their position, invest more money and chase losses – all the characteristics associated with the harm of gambling.”

Repression is approaching when players are hooked on bitcoin

Source link Repression is approaching when players are hooked on bitcoin

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