Vt. officials highlight cryptocurrency investment risks

Published: Dec. 2, 2022 at 4:30 PM EST
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BURLINGTON, Vt. (WCAX) - Vermont’s Department of Financial Regulation Thursday issued a warning concerning the risk of investing in Cryptocurrency.

It comes after a U.S.-based cryptocurrency exchange FTX recently filed for bankruptcy a few weeks back. Several crypto companies have failed this year as bitcoin and other digital currencies have collapsed in value. FTX failed when it experienced the crypto equivalent of a bank run, and early investigations have found that FTX employees intermingled assets held for customers with assets they were investing.

Darren Perron spoke with Ethan McLaughlin, assistant general counsel for the Vermont Department of Financial Regulation, about the possible pitfalls of cryptocurrency.