Nevada Issues Bitcoin Consumer Alert
Remember just a few days ago when we filed a post noting that Missouri officials had issued an advisory on the topic of bitcoin and cryptocurrencies? I closed that post by saying that "...there's likely more [of these warnings] to come", and that is exactly what has happened. The next state to throw up their warning flags is Nevada. In conjunction with a group of national state organizations (specifically, the Conference of State Bank Supervisors and the North American Securities Administrators Association), the Nevada Financial Institutions Division has reportedly begun warning citizens....
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Alabama state regulator Joseph Borg will reportedly issue a warning/consumer alert on digital currency (the most popular of which being bitcoin) Tuesday. The alert will advise both consumers and investors who have issues cashing out of bitcoin or troubles withdrawing to stop trading, at least until the problems they're experiencing get sorted out. Borg has served for 20 years on the Alabama Securities Commission, and is presently the administrator, and is known for forming the task force that brought down Jordan Belfort's Stratton Oakmont investment firm (a story chronicled in the 2013....
The Washington State Department of Financial Institutions (DFI) has warned consumers about investing in bitcoin and digital currency, along with marijuana and binary contract investments. The notice has been posted on the department's "news and alerts" section and is titled, "Beware of the Next Big Investment." State Capitol Building. Marijuana, binary options and digital currency have recently emerged as investments that buyers and sellers hope will be "the next big thing," the alert notes. The notice addresses bitcoin after first describing the other two investments and devotes....
The Massachusetts Office of Consumer Affairs is reviewing the Boston Bitcoin ATM, after issuing a warning. Last Tuesday, another warning against the usage of Bitcoin was thrown into the world. The Massachusetts Consumer Affairs Office issued an official consumer alert, warning people about the risks of buying and trading the virtual currency. Mt. Gox and Boston ATM. The alert isn't any different from previous warnings we've seen, but it's special since it was issued by the state of Massachusetts. The state recently made headlines when one of America's first Bitcoin ATMs was surprisingly....
A Nevada man has acknowledged to participating in the money laundering plan for the Bitclub Network, a $722 million fake crypto operation. Gordon Brad Beckstead of Henderson, Nevada, pled guilty Friday in connection with the Bitclub Network scheme, the US Department of Justice reported. Beckstead, 57, entered a plea of guilty by videoconference in a […]
After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published a consumer alert and said the state regulator was “investigating the apparent failure of crypto asset platform FTX.” California’s Department of Financial Protection Investigates FTX, Publishes Consumer Warning Following the report that shows the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly....