The Superintendent of Financial Services of the central bank (BCU) conducted a exhortation to the general public to be cautious about advertising in the mass media that encourages them to invest or save in cryptocurrencies.
“The public in general and savers in particular are informed that the existence of advertising carried out through different mass media has been verifiedby individuals or companies, summoning to invest or save through cryptocurrencies through technological platforms or automatonspromising returns on investment,” says a communication released by the BCU on Tuesday.
In this regard, the Superintendence of Financial Services considers it necessary to complement what was stated by the Central Bank of Uruguay in its communication dated October 1, 2021 and “make it known that the companies that offer this type of products or investments as well as the instruments offered are not registered in their records”.
“It is reiterated that virtual assets, due to their characteristics, offer price or quotation volatility such that it is not possible to guarantee that past or previously obtained profitability will be projected into the future,” warns the BCU.
Likewise, the monetary authority reported that, when investing, in order to know if the company or the product offered is registered or has authorization or authorization to operate by the Superintendence of Financial Services of the Central Bank of Uruguay , available records can be consulted on our institutional website.
