Cryptocurrency: Understanding Digital Assets and Avoiding Scams
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Cryptocurrency: Understanding Digital Assets and Avoiding Scams
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About this listen
Show Notes:
This episode explores the world of cryptocurrency scams with Robert Cummings, Director of the Division of Securities. We break down the basics of digital money, including how it's acquired, stored, and used, its inherent risks, such as its volatile value, why someone might choose to own cryptocurrency, how cryptocurrency is exploited for scams, common types of crypto scams, and why scammers favor using cryptocurrency. We also discuss the most common mistakes people make that lead to losing their crypto. Please note that the Department of Commerce, along with its divisions and offices, refrains from commenting on ongoing and current investigations. Statements are issued only after action is taken against a business or individual. This podcast is hosted by Patrick Fitzgibbon and produced by Katie Scheuch.
Links Mentioned in the Episode:
Division of Securities: securities.utah.gov
File a complaint: https://securities.utah.gov/enforcement/file-a-complaint/
Verify a license: https://securities.utah.gov/licenses/verify-a-license/
FINRA broker check: https://brokercheck.finra.org/
scams.utah.gov