According to reports, the Portuguese authorities are planning to take action against social media influencers who provide crypto-related investment advice. These plans are being discussed after thousands of Portuguese have signed an online petition.

There is already an encrypted Youtuber in the unit loop

According to Expresso, the Portuguese judicial police Policía Judiciária is “analyzing” whether the domestic cryptocurrency Youtuber has carried out some illegal activities. In fact, the authorities are looking for people who indirectly promote crypto scams, such as fake gifts.

However, a source told the local media that since they are first assessing the severity of the incident, no investigation has yet been conducted:

I’m not sure what illegal acts are there. We are trying to better understand this situation. But I remember that buying Bitcoin is not considered a crime in itself.

But Expresso said the police have investigated the allegations against a Youtuber who admitted to guilty of wrongdoing. However, he promised to refund the money his followers requested on the video.

The petition says the scam is mainly young people

According to an online petition published on Petiçao Publica, as of press time, the petition has been signed by 14,299. The author claims that there are a large number of get rich quick programs involving cryptocurrency, foreign exchange, sports betting and stock investment.

The content of the post is as follows:

It is becoming more and more common in my country that these types of plans have some easily identifiable commonalities, such as attractive promises that are expected to get rich quickly, and are usually practiced by influencers who use influence and/or show luxury . In addition, the explicit sales of courses and/or the use of the membership system, as well as through the use of the system, have greatly promoted the development of brokers through the broker system, so that these scammers can be dishonestly enriched, and the deceived suffer A huge loss.

At the bottom of the petition, the author asked the authorities to take action against “new and modern scammers” in a “serious” manner. In addition, the post also pointed out that such scams mainly harm young people.

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What do you think of this online petition initiated in Portugal? Let us know in the comments section below.

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