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Regulators in Florida Issue Consumer Advisory Related to Bitcoin

Avatar Jayanand Sagar 5 years ago

Florida Office of Financial Regulation

Another State in the United States is issuing a consumer advisory related to the use of digital currencies like bitcoin.

Regulators at the Florida Office of Financial Regulation have come forth with warnings on the perils of getting involved with bitcoin, making note of the fact that digital currencies are neither regulated nor backed.

The Office of Financial Regulation  also warned that some exchanges that deal in digital currencies and offer to store them for customers have failed to protect them properly, as pointed out by the Tampa Bay Business Journal.

Florida joins the state of Massachusetts, who released a consumer advisory of their own on digital currencies following the debut of a bitcoin vending machine in South Station.

[source: Tampa Bay Business Journal]

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