California AG issues warning-ladened guidance for public interested in buying crypto

CoinTelegraph

With the cryptocurrency market becoming ever more complex and intimidating, California Attorney General Rob Bonta had decided to issue guidance for novice crypto buyers. The California Office of the Attorney General’s website now features a page that will help those new to crypto “avoid the hype, [and] get the facts.” 

“Don’t fall for a fantasy – Cryptocurrency, like all investments, carries significant risks, and there’s no guarantee that you’ll see large – or any – returns,” Bonta said in a statement. “Our new webpage is meant to be a resource for Californians curious about this new and volatile market.”

How To Get Free Crypto  

The new page emphasizes customer safety. It provides a two-sentence explanation of what “crypto assets” are, plus a vocabulary list, and warns that:

“Even when there are no scams involved, crypto assets can be risky, especially if you don’t have enough information to make sound judgments about how you’re spending your money.”

Aside from that, the page concentrated on scams, red flags and how to “stay safe.” That information is concise but complete. It reminded the reader of the limit legal recourse available if problems arise with a cryptocurrency purchase, but gave detailed instructions on how and where to file a complaint. Besides explaining what a rug pull and pig butchering are, the guide reminded readers that celebrities are paid for what they say about crypto and that the wise buyer does not fall for Fear of Missing Out.

Related: California regulators to investigate FTX crypto exchange collapse

California, which has the world’s fourth largest economy, often appears high on surveys of crypto-friendliness and has been ranked highly for its “crypto-readiness” and growing legal infrastructure. In September, Gov. Gavin Newsom vetoed a bill to create a licensing and regulatory framework for digital assets. Newsom said federal regulation needed to “come into sharper focus for digital financial assets” before states began their regulatory efforts.

Go to Source
Author: Derek Andersen


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.