Proponents of the varied cryptocurrencies believe that buying these “coins” will make them millionaires. For some, it is hard to argue, given the spectacular gains in the currency over the past year.
However, those of us who have been involved in the securities markets for more than a few years, have seen all of this before – a new investment, a new technology, a new something that drives everyone crazy, only to go bust, causing millions in losses.
Read more at The Securities Law Blog: Bitcoin Fraud On the Rise
Mark Astarita is a nationally recognized securities attorney, who represents investors, financial professionals and firms in securities litigation, arbitration and regulatory matters, including SEC and FINRA investigations and enforcement proceedings.
He is a partner in the national securities law firm Sallah Astarita & Cox, LLC, and the founder of The Securities Law Home Page - SECLaw.com, which was one of the first legal topic sites on the Internet. It went online in 1995 and is updated daily with news, commentary and securities law related links.