Cryptocurrency Investor Alert  
Cryptocurrency Infographic

Montpelier, VT — With the popular cryptocurrency Bitcoin again surging above $50,000 for a single coin, Department of Financial Regulation (DFR) Commissioner Michael Pieciak urges Vermont investors to fully understand the risks when using and investing in cryptocurrencies.

Throughout the pandemic, the number of cryptocurrency transactions initiated in Vermont skyrocketed over 400% percent (224,283 transactions in 2020, compared to 44,290 in 2019). The total value of those Vermont-based transactions topped out at $83.7 million in 2020, compared to $15.1 million in 2019.   

With interest in cryptocurrency on the rise in Vermont, unfortunately, so are scams. Over the past month, DFR has received consumer complaints relating to cryptocurrency scams that total over $1…

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