Lincoln County residents and those across the state seeking investment opportunities are being cautioned about where they place their money.
The bankruptcy of FTX, which left approximately 1 million customers and investors facing total losses in the billions, should serve as a warning to anyone investing in cryptocurrency, the DFR said.
The Oregon Division of Financial Regulation (DFR) is urging Oregon investors to diversify investments and be informed of the risks in investing in largely unregulated products such as cryptocurrency.
Some of these financial product offerings are registered and licensed with DFR as money transmitters or securities offerings. The division has investigated several cryptocurrency companies and continues to monitor the market.
According to an online broad definition, a cryptocurrency is virtual or digital money that takes the form of tokens or coins.
Cryptocurrencies are digital assets that have no government backing. They are typically purchased, used, stored, and traded electronically…
