Indiana State Government Warns Bitcoin Investors
Courtesy of U. S. Government. Over the past year, Bitcoin and other cryptocurrencies have increasingly found their way into the mainstream news cycle. Those stories have sometimes been positive, such as when Overstock elected to accept Bitcoin payments and when the Dogecoin community pooled their resources to sponsor a “Dogecar” in the Talledega NASCAR race. However, with increased exposure comes increased criticism, and the cryptocurrency community experienced several setbacks as prominent exchanges and wallets such as Mt. Gox, DogeVault, and Cryptorush have shut down, losing thousands of....
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Indiana is joining the ever-growing lists of states making comments on bitcoin. The "Informed Investor Advisory" came in the form of a document entitled "Are You An Informed Investor?" released by The Office of the Indiana Secretary of State [direct link] which essentially echoes sentiments the crypto-currency community has heard time and time again. Therein, the following points are made: Digital currencies are minimally regulated, and if they disappear, they're likely to be gone without any recourse for the owner. Digital currency amount are not in any way backed by the Federal Deposit....
The financial regulator of the U.S. state of Arizona has warned investors about crypto interest-bearing accounts. “Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return,” the regulator said. State Regulator Warns About Crypto Interest-Bearing Accounts The Arizona Corporation Commission issued an investor alert this week, warning about “digital asset financial services companies that offer interest-bearing crypto-asset accounts.” The regulator explained: “With....
Indiana is moving closer to formally embedding crypto into its public financial system after lawmakers approved House Bill 1042, commonly referred to as the Bitcoin Rights Bill. The legislation has cleared both legislative chambers and now awaits the signature of Governor Mike Braun. Related Reading: Binance Faces US Senate Inquiry Tied To $1.7 Billion In […]
Former congressman Ron Paul has warned of a government crackdown on bitcoin and safe-haven assets may not be safe from government intervention. “The government is the threat,” he said, noting that “they will crack down because they have the ability to do it.” Ron Paul Warns of Government Threat to Bitcoin Former presidential candidate Ron Paul shared his view on the government’s intervention on bitcoin in an interview last week with Kitco News’ Michelle Makori. Paul is an American author, physician, and retired politician. The former congressman from....
If you don't want to get sucked into a scam, subject your funds to cyber attack or lose value to currency fluctuation, the Connecticut Better Business Bureau warns you to be wary of bitcoin. The bureau has released a warning to businesses, investors and consumers about using virtual currency. It warns virtual currency is subject to minimal regulation, is susceptible to cyber attacks and is not backed by any government. It warns that con artists are hawking investment swindles with it. Hundreds of thousands of merchants, including major retailers, now accept bitcoin, the bureau notes in its....