State securities officials issue warning about Bitcoin, digital currencies
By Darren Fishell, Bangor Daily News, Maine | |
McClatchy-Tribune Information Services |
The warning from the
For investors, the state securities office warned that the value of the currencies tend to be volatile.
"The concept behind the currency is difficult to understand even for sophisticated financial experts," said Securities Administrator
In a phone interview, Shaw said the state office has not had any reports of fraud or complaints about virtual currency in
"We're watching it very closely to see if other state or federal regulators are going to actually regulate virtual currencies," she said.
The warning follows the lead of states like
The digital currency news website CoinDesk reported last month that
In addition to trading virtual currencies as commodities, the state office cautioned investors about exchange-traded funds, which are indexed against a basket of stocks or commodities, and derivatives tied to virtual currencies.
The warning references as a cause for concern the April bankruptcy filing of the
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