California and New Mexico Issue Consumer Digital Currency Advisories

The California Department of Business Oversight (DBO) and the New Mexico Taxation and Revenue Department (TRD) have both issued new releases warning consumers in those states about the potential downsides of investing in digital currency.

The California DBO oversees a number of financial service and product providers in California, including banks and credit unions, money transmitters, investment planners and independent escrow agents, among other entities, while the New Mexico’s TRD is responsible for collecting governmental revenue.

Overall, the releases take a broad look at digital currencies, with a particular focus on the risks associated with exchanging, investing in and otherwise holding such assets.

Continue reading at CoinDesk