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US CFPB Now Accepting Complaints Against Bitcoin Businesses

Monday 11th, August 2014 / 13:31
US CFPB Now Accepting Complaints Against Bitcoin Businesses

The US Consumer Financial Protection Bureau (CFPB) has warned consumers that they should exercise caution when engaging with the bitcoin and digital currency markets.

The CFPB advisory urges consumers to be vigilant as there are risks to consider when dealing and transacting with digital currency; namely, volatile exchange rates, unclear costs, security threats posed by hackers and scammers and the possibility that companies may not always be able to provide help or refunds for lost or stolen funds.

CFPB Director Richard Cordray echoed the agency’s emphasis on the risk posed by digital currencies in his remarks, adding:

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THE BITCOIN MAGAZINE MISSION Bitcoin Magazine is on a mission to be the most accurate and up-to-date source of information, news and commentary about Bitcoin and crypto-currencies. The magazine reaches hundreds of thousands of readers every month by covering current events in business, technology, politics, law and society with a wide variety of viewpoints and opinions from authors and guests in an attempt to provide enlightening commentary that is accessible to new Bitcoin users as well as news and insights the veteran users will find valuable. We desire to work with the Bitcoin community to help support and grow this tremendous technological and financial innovation that empowers each one of us to manage our own economic relations with greater control.

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