A rider bill that recently passed in the California legislature suggests a stalled regulatory overhaul with big implications for cryptocurrency is once again in motion. Close followers of the BitAML blog will remember an entry from earlier this year which described a proposed shift in the way...
First-time customers attempting to purchase cryptocurrency because they "won the lottery" or some other prize could be victims of a scam in progress. Here's how to put an end to it. Financial scams are successful because they often mirror legitimate offers, and because scammers successfully apply...
If you run a crypto business, be on the lookout for signs of check-cashing scams. This old-fashioned fraud is as prevalent as ever. Even though most of us regularly use modern tools like debit cards and online banking to manage our finances, the good old-fashioned paper...
This old-fashioned scam is more prevalent than you think — and your customers could be at risk. If you run a cryptocurrency exchange, kiosk network, or other crypto MSB, here's what you need to do about this fraud. BitAML is continuing its blog series cataloging the...
Americans lose millions in utility scams each year, especially as winter approaches. More scammers are asking for cryptocurrency. BitAML is continuing its blog series on scams in the cryptocurrency industry. These articles are designed primarily to assist cryptocurrency business owners in the enforcement of strong consumer protection,...
By providing custodian services to consumers, traditional banks have officially entered the cryptocurrency market in a move with far-reaching implications. By now you've likely heard a rumble or two about a recent interpretive letter from regulators that allows banks to become custodians of cryptocurrency. For some,...
The Social Security Administration will never call an individual to demand payment in cryptocurrency or any other form. We explain what to do about this common scam. We're continuing our cryptocurrency scams blog series with a look at an all-too-familiar and unfortunately common scheme: The Social...
When consumers receive a call from a 'family member' who claims to be in some kind of trouble and is asking for a payment in cryptocurrency, it's most likely a scam. Financial scams are on the rise, and the cryptocurrency industry is far from immune. While most...
Bitcoin businesses tend to attract crypto enthusiasts as employees. But does allowing your employees also to be your customers cross an ethical (or legal) line? Let's say you work for a prominent cryptocurrency exchange. The exchange is considering listing a brand new coin. We'll call it Bobcoin....
The time has come for entrepreneurs in the bitcoin and cryptocurrency space to implement robust consumer protection protocols. Here's how. Consumer protection is an evolving topic in cryptocurrency. Though crypto continues to attract growing consumer interest, concrete information on the risks of transacting isn't often readily...
Our experts are happy to help. Submit the form below for a free, no-pressure 30-minute consultation.
