I hope this would help but I still think there is nothing better than educating the people. Prevention is better than cure but the bad side is that some people are not ready to learn until they are scammed. This can not completely eliminate crypto phishing and investment scam but I think it will help to some extent.
What do you think about this?
As far as I know there is no way to completely eliminate fraud or hack in cryptocurrency because that is being tied to real money and when sold or converted they would be definitely getting the equivalent to the preferred fiat they need. In even on our local currencies there are still no way to completely eliminate how people often fall into fraud or becoming a victim or hack around the space. Instead there will be a way to sanitize people and give them proper orientation regarding to their security and they hacker do launch attack or some phishing sites to people to click and become automatically victims of it.
Even if we can't eliminate scams entirely at least some effort and enforcement from government most especially inter governmental relations like this one will help to align most ads with international compliance.
Since one of their core duty is to flag scam cryptocurrency investment scheme like ponzi and other cloud related scams and hacks, this can limit the operation of those scammers, but as we have always Said let wait to see the implementation of this development.
I would say this will at least make the people aware of the situation but the problem is not the authority, its the people who get scam, even though they already know its a scam, they will still continue because they are already blinded by greed, at the same time if the authorities will make things difficult for this scammers by flagging them early it will make them silent or change tactics delaying their scheme, the best way is to block the site once its already been flag make them submit papers to make them legit, if not then they should be arrested.
