Regulators on Tuesday charged a Texas man with running a Ponzi scheme promising big returns on the virtual currency bitcoin, and warned individual investors to be wary of similar frauds.
The move by the Securities and Exchange Commission is the latest action by regulators to rein in suspicious activity associated with virtual currencies.
"We are concerned that the rising use of virtual currencies in the global marketplace may entice fraudsters to lure investors into Ponzi and other schemes in which these currencies are used to facilitate fraudulent, or simply fabricated, investments or transactions," the SEC said in ...
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