Date Posted: 
Friday, November 18, 2022

The Washington State Department of Financial Institutions (DFI) reminds Washington investors to diversify investments and be informed when investing in largely unregulated products like cryptocurrency.   

Recent bankruptcies of cryptocurrency companies have revealed that consumers holding accounts at these types of companies may be considered unsecured creditors.

Some of these companies are registered and licensed with DFI. We have opened multiple investigations in connection with cryptocurrency companies and may take enforcement action in the event that we uncover violations of state law. 

Today, more than ever, it’s important for investors to be fully aware of the risks involved with their investments. No investment is free of risk – this past week's events shine a bright light on the potential for risk within cryptocurrency investments. 

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