The financial self-regulatory body warns investors of risks of cryptocurrency purchases and lists advice to avoid scams.

The US Financial Industry Regulatory Authority (FINRA) published guidance for investors who are interested in cryptocurrencies. FINRA calls for caution when buying shares of companies claiming to offer high returns and associated with cryptocurrencies.

"Do your research before purchasing shares of any company offering investment opportunities in cryptocurrency. And don’t be fooled by unrealistic predictions of returns and claims made through press releases, spam email, telemarketing calls or posted online or in social media threads. These actions may be signs of a classic "pump and dump" fraud."

The self-regulatory organization lists tips that could help to avoid scams. FINRA recommends not to discuss possible investments and even not to speak at all with callers from telemarketing centers. Investors should look for all available legal information about the company they are interested in, check databases for SEC requirements compliance.

"Be suspect of anyone who makes guarantees that an investment will perform a certain way, or makes pushy sales pitches that encourage you to “act now.”