US Exchanges: E-currency investors’ losses not recoverable
The US Securities and Exchange Commission (SEC) called on investors to be cautious in dealing with electronic currencies such as “Betcquin”, saying they would not be able to recover losses from investors.
The US Securities and Exchange Commission (SEC) said Thursday that government and federal agencies may not be able to recover any lost investment from illegal sources.
The statement pointed out that many who promote the idea of initial offers of currency and other investments in electronic currencies are not subject to federal and government securities laws.
E-currency has seen record highs since the beginning of the year, although investors’ concerns about Bitquin have changed to less valuable currencies such as Ethrium, Ripal and Cardano.
The statement pointed out that the US stock exchanges and regulators in the state are monitoring the violations, but they can not help investors who may lose their money.
The warnings came less than a month after US President Jay Clayton issued a statement on a number of e-currency concerns and initial offers.
The market capitalization of all electronic currencies rose to $ 772.891 billion from $ 613.605 billion at the beginning of the year.
Electronic currency (or digital) or electronic money (e-money or digital cash or e-cash or digital money) refers to money or currency that you exchange only electronically. In practice, this includes computer networks, the Internet and electronic data storage programs. Electronic currency includes electronic money transfers and direct payments. It is also a comprehensive expression of its economic and technical blindness.
Although electronic currency has been an intriguing subject, the digital currency is still very low in the Internet market today. Among the most famous are PayPal.