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Security and Exchange Commission warns on virtual currencies
Tuesday May 13,2014 : S.E.C. CAUTIONS ON USE OF VIRTUAL CURRENCIES
Unique risks inherent in using Bitcoin and other internet-based currencies, stock exchange regulator warns.
The United States Security and Exchange Commission has issued an alert cautioning investors on the unique dangers attached to trading and using virtual currencies such as Bitcoin.
In an advisory headed “Investments involving Bitcoin present unique risks” the SEC points out that governments and banks are not associated with virtual currencies and these are therefore not covered by either government or bank insurance measures.
That means that losses due to a variety of causes cannot be recovered and the use of virtual currencies is not officially and stringently regulated and policed.
The extreme volatility associated with such currencies also represents a serious risk, the advisory warns.
Fraud is another risk to users of virtual currencies, the SEC warns, especially in relation to Bitcoin investment schemes, where the innovative and volatile nature of the currency represents a danger at the hands of fraudsters to those that do not yet fully understand the characteristics and history of the products, and are blinded by "get rich quick" success stories.
The SEC warns that before involving themselves in virtual currency deals, investors should ensure that they have studied the products and the market and are familiar with both risks and advantages.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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