Pension risk as US watchdog warns savers of bitcoin ‘scammers’ and ‘bogus investments’
The US-based Utah Division of Securities has released information warning savers that cryptocurrency schemes may target individuals’ retirement savings.
The Division of Securities works to protect the investing public and promote confidence in the capital markets. And the warning comes after Merrill Lynch, the investment arm of The Bank of America, decided to block access to all funds connected to bitcoin after concerns were raised by bank chiefs over the “suitability and eligibility standards of this product”.
Keith Woodwell, director of the Utah Division of Securities said: “Utah’s reputation as a technically savvy and connected state makes our population ripe for cryptocurrency fraud.
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