Back in August 2014, the CFPB published a Consumer Advisory entitled, "Risks to consumers posed by virtual currencies." In the Advisory, the CFPB informs consumers of the risks associated with blockchain currency, including scams, cost as compared with credit cards, fewer protections when something goes awry, and the potential for hackers.
In the Advisory, the CFPB warns consumers about bitcoin and other blockchain currency. Risks include the threat of hackers and scammers that pose serious security threats. Because bitcoin and other blockchain currencies are virtual, fraud ...
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