Regulators in Texas Warn of Bitcoin, Digital Currency Risks
Regulators in Texas are sounding the warning alarm when it comes to the use of bitcoin and other digital currencies, a report from The Columbus Dispatch indicates. The state regulators are offering now-commonplace hazards (with all the governments around the world issuing their own warnings) when it comes to the use of these digital currencies: "Digital currencies right now are very, very trendy," Joseph Rotunda, director of enforcement on the Securities Board was quoted as saying. "There's a lot of buzz about them. It's really easy to look at the benefits, the positives of digital....
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Regulators in Texas have warned digital currencies like bitcoin are volatile and probably more suited to young people than retirees, the Dallas Morning News has reported. Describing digital currencies as "very, very trendy" right now, Joseph Rotunda, director of enforcement at the Texas State Securities Board, said that all the "buzz" around digital currencies had led people to look only at the positives and not the risks. Rotunda said it wasn't just about bitcoin, but the myriad other digital currencies popping up every week that presented a risk to investors. "There's more of them in....
I was reading the news this afternoon and saw this article that caught my eye. It was notable due to it dealing with Bitcoin, and its use as an investment tool. Balanced Energy, a small oil company, run by Kirk Johnson was recently told by Texas State Regulators they are not to accept Bitcoin payments. They served them with an Emergency Cease and Desist order. Balanced Energy had announced in a pitch at the Texas Bitcoin Conference that they are the first company to accept Bitcoin for exploration investments. Texas State Regulators wasted no time in telling Balanced Energy that they could....
India's authorities are allegedly preparing a public advisory to warn against the risks associated with emerging digital currencies. The problem is not with the digital currencies themselves, but some worrying trends involving bitcoin and other cryptocurrencies. Indian regulators are concerned that increasingly popular bitcoin investment schemes could become a source of volatility, eventually turning into an electronic version of investor fraud. An unnamed senior Indian official told the Press Trust of India (PTI) that a public advisory may be issued soon to warn against the "possible....
Texas-based Balanced Energy LLC has reportedly been told by the Texas State Securities Board to stop getting itself involved with bitcoin, according to a number of reports. The Southlake company was reportedly raising capital using the digital currency and selling unregistered securities - something the Board says took place at the Texas Bitcoin Conference in Austin recently. "Balanced Energy and Johnson are accepting payment through Bitcoin, a digital currency that incorporates cryptography and is designed to enable users to send money over the Internet without using a credit card or bank....
The Association of Russian Banks is worried about regulators being unable to track illicit transactions of an offline-enabled digital ruble. Russia’s central bank digital currency, or CBDC, could contain a number of risks related to cybersecurity and fraud, according to several local financial institutions.The Association of Russian Banks, or ARB, has released its official feedback on Russia’s digital ruble project on Jan. 13. The study included 17 ABR credit institutions in Russia accounting for 58% of the total assets of the domestic banking system. According to the report, the majority....