An investor education official with the Securities and Exchange Commission (SEC) had a simple message to would-be cryptocurrency investors this week: think before you leap.
The blog post echoed past alerts published by the SEC as well as the Commodity Futures Trading Commission (CFTC). Last week, the CFTC issued a warning on "pump-and-dump" groups operating in the cryptocurrency market.
Other warnings have cautioned investors against trusting retirement schemes which claim government agency backing or publicly-traded companies that promote their pivots to business lines related to cryptocurrency or blockchain tech.
In the end, Shock wrote that "cryptocurrencies may be today's shiny, new opportunity but there are serious risks involved" – and as a result, investors should tread lightly before putting their money into the market.
"Proceed with caution, do your research, evaluate your financial goals and most importantly, don't flip a coin when you're making investment decisions," she concluded.