Crypto frauds are far too common – Treasury official

There have been “too many cases” of cryptocurrency fraud in the United States, US Under Secretary of the Treasury for Domestic Finance Nellie Liang said on Tuesday.

Both the Commodity Futures Trading Commission and the Securities and Exchange Commission are taking action to protect consumers, she said during a hearing before the House Committee on Financial Services.

Misleading advertising can be just as big of a problem as incidences of fraud, Liang concluded.

Baha Breaking the News (BBN) / BU