With the cryptocurrency market becoming more complex and intimidating, California Attorney General Rob Bonta has decided to publish a guide for first-time cryptocurrency buyers. The California Attorney General’s Office website now features a page that will help those new to the crypto space “avoid the hype, [y] to know the facts.”
“Don’t fall for a fantasy – Cryptocurrency, like all investments, carries significant risks, and there is no guarantee that you will see great – or any – returns,” Bonta said in a statement. “Our new website is intended to be a resource for Californians who are curious about this new and volatile market.”
(The Editor – Los Angeles, CA) Attorney General Bonta Provides Guidance to Californians Considering Investing in Cryptocurrency | State of California – Department of Justice https://t.co/eAiTizfctj
—WatchOurCity.com (@WatchOurCity) November 15, 2022
The new page emphasizes customer safety. Offers a two-sentence explanation of what “crypto-assets” are, plus a vocabulary list, and notes 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.”
Other than that, the page focuses on scams, red flags, and how to “stay safe.” That information is concise but complete. It reminded the reader of the limit of legal remedies available if problems arose with a cryptocurrency purchase, but gave detailed instructions on how and where to file a complaint. In addition to explaining what a rug pull and pig butchering is, the guide reminded readers that celebrities get paid for what they say about cryptocurrency and that the prudent buyer is not afraid of missing out.
California, which has the fourth-largest economy in the world, often appears high in surveys on crypto-friendliness and has been ranked highly for its “crypto-readiness” and growing legal infrastructure. In September, Governor Gavin Newsom vetoed a bill to create a licensing and regulatory framework for digital assets. Newsom said federal regulation had to “get more precise for digital financial assets” before states began their regulatory efforts.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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