RATE Group | Texas Securities Board Added Cryptocurrencies to List of Top Threats to Investors
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Texas Securities Board Added Cryptocurrencies to List of Top Threats to Investors

14 Jan Texas Securities Board Added Cryptocurrencies to List of Top Threats to Investors

Posted at 20:31h in Cryptocurrency News by

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Texas regulators have included cryptocurrencies in their list of top threats to investors, according to the latest Texas Investor Guide.

In its tenth anniversary edition of the State Securities Board’s “Texas Investor Guide: Strategies for Investing Wisely and Avoiding Financial Fraud,” the regulator added cryptocurrency to the list of investments that raise red flags and require careful scrutiny. The document specifically outlined that cryptocurrencies are extremely volatile and difficult to understand for a non-professional trader.

The purported threats

Among the purported threats, the report pointed out investment opportunities in cryptocurrency mining pools and initial coin offerings directed at seniors and retirees, who apparently prioritize security over speculation. The document further warned:

“In the riskiest cryptocurrency-related offerings, promoters do not provide audited records or other financial information to back up their claims of extraordinarily high…

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