Portuguese authorities are reportedly planning to take action against social media influencers who provide advice on crypto-related investments. The plans are being discussed in the wake of an online petition signed by thousands of Portuguese.
A Crypto Youtuber Already in the Authorities Loop
According to Expresso, Portugalâ€™s judicial police, PolicÃa JudiciÃ¡ria, is â€œanalyzingâ€ whether domestic crypto Youtubers commit some illegal activity with their content. In fact, authorities are looking to target the ones who promote crypto scams indirectly, such as fake giveaways.
However, a source told the local media outlet that still there is no investigation underway, as theyâ€™re trying first to assess the magnitude of the matter:
But Expresso says the police already looked at some allegations against one Youtuber who confessed to having committed wrongdoings. However, he promised to refund his followers the money asked on the videos.
Scams Are Hurting Mainly Younger People, Petition Says
Per the online petition, published in PetiÃ§ao Publica and signed by 14,299 as of press time, the author claims that there are massive quick-rich schemes involving cryptocurrencies, forex, sports betting, and stocks investments.
The post reads as follows:
At the bottom of the petition, the author asks for authorities to take action on the â€œnew and modern scammersâ€ in a â€œseriousâ€ manner. Also, the post specifies such scams are hurting mainly younger people.
What do you think about this online petition launched in Portugal? Let us know in the comments section below.
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