It wouldn’t be a complete week without some sort of government agency issuing a warning on bitcoin.
And that is exactly what the United States Securities and Exchange Commission has done.
The agency — who is responsible for enforcing securities laws — released this investor alert on Wednesday warning citizens of the perils of bitcoin.
The alert, which starts with a primer of the digital currency makes the following points:
- “Investments involving Bitcoin may have a heightened risk of fraud.”
- “Bitcoin users may be targets for fraudulent or high-risk investment schemes.”
- “Using Bitcoin may limit your recovery in the event of fraud or theft.”
- “Investments involving Bitcoin present unique risks.”
Of course, these echo the sentiments we’ve seen from a number of governments, but it doesn’t spell the end of bitcoin by any means.
You also can’t blame the Commission for issuing this warning. This is, after all, part of what they’re supposed to do.
Let me know what you think.