{"id":37467,"date":"2023-03-09T03:35:18","date_gmt":"2023-03-09T08:35:18","guid":{"rendered":"https:\/\/d56fg8tfg.fitnews.club\/finance\/cfpb-warns-consumers-about-bitcoin\/"},"modified":"2023-03-09T03:35:18","modified_gmt":"2023-03-09T08:35:18","slug":"cfpb-warns-consumers-about-bitcoin","status":"publish","type":"post","link":"https:\/\/d56fg8tfg.fitnews.club\/finance\/cfpb-warns-consumers-about-bitcoin\/","title":{"rendered":"CFPB Warns Consumers About Bitcoin"},"content":{"rendered":"
CFPB Now Accepting Complaints on Virtual Currency Products and Services<\/strong><\/em><\/p>\n WASHINGTON, D.C. \u2014<\/strong> Today the Consumer Financial Protection Bureau (CFPB) issued a consumer advisory warning consumers about the risks of virtual currencies such as Bitcoin. The CFPB advises consumers to be aware of potential issues with virtual currencies such as unclear costs, volatile exchange rates, the threat of hacking and scams, and that companies may not offer help or refunds for lost or stolen funds. The CFPB also announced that consumers who encounter a problem with a virtual currency product or service can now submit a complaint with the Bureau.<\/p>\n \u201cVirtual currencies may have potential benefits, but consumers need to be cautious and they need to be asking the right questions,\u201d said CFPB Director Richard Cordray. \u201cVirtual currencies are not backed by any government or central bank, and at this point consumers are stepping into the Wild West when they engage in the market.\u201d<\/p>\n The virtual currencies consumer advisory is available at: https:\/\/files.consumerfinance.gov\/f\/201408_cfpb_consumer-advisory_virtual-currencies.pdf<\/span>