The U.S. Securities and Exchange Commission (SEC) has issued yet another cautionary bulletin for Bitcoin investors. Specifically, the Commission has warned about the dangers for BTC futures traders and has asked them to “weigh carefully the potential risks and benefits of the investment”.
The bulletin called “Funds Trading in Bitcoin Futures” is part of a long list of these articles dedicated to cryptocurrencies and digital assets.
The first one was published on July 23, 2013, and was titled “Investor Alert: Ponzi Schemes Using Virtual Currencies”. In this article, the Commission warns investors about Bitcoin and explains in detail the characteristics of a Ponzi Scheme, a type of scam where existing participants received payments from new contributors.
The SEC classified these schemes as non-legitimate investments and claimed to be concern about fraudsters utilizing Bitcoin to commit or facilitate this scam. In addition, the SEC claimed exchange platform could also be part of the illegal scheme.
Despite the date of publication,