Daily Archives: June 3, 2022, 8:39 am

The backlash to cryptocurrency investment is growing – The Washington Post

Maybe it was when the author of the influential book “Black Swan” said bitcoin was worth “exactly zero.” Perhaps it was the assessment from a billionaire hedge-fund manager that cryptocurrencies are a “limited supply of nothing.” Or it could just be one of those cultural shifts that happens when one too many celebrities tries to convince us of something. Whatever…

Read More

INVESTOR ALERT: Attorney General James Warns New Yorkers About Cryptocurrency Investment Risks | New York State Attorney General

“Over and over again, investors are losing billions because of risky cryptocurrency investments,” said Attorney General James. “Even well-known virtual currencies from reputable trading platforms can still crash and investors can lose billions in the blink of an eye. Too often, cryptocurrency investments create more pain than gain for investors. I urge New Yorkers to be cautious before putting their…

Read More

ForUsAll Launches First Crypto Guidance Lawsuit Against DOL

The US Labor Department is being called to task in federal court for its recent strongly worded guidance advising 401(k) plans against cryptocurrency investments. San Francisco-based plan provider ForUsAll Inc. filed a lawsuit against the department Thursday, claiming regulators breached their statutory purview by threatening “an investigative program” aimed at plan sponsors that offer digital assets through their core plan…

Read More

Japan Passes Crypto Stablecoin Bill That Enshrines Investor Protection – Bloomberg

Japan’s parliament passed a bill on Friday that clarified the legal status of stablecoins, defining them essentially as digital money. Stablecoins must be linked to the yen or another legal tender and guarantee holders the right to redeem them at face value, according to the new law. The legal definition effectively means stablecoins can only be issued by licensed banks,…

Read More