On Friday, The UK Financial Conduct Authority (FCA) published an updated warning on its website about the danger of cryptocurrency investment scams, advising consumers to be skeptical of online ads that promise “high returns on investments in cryptocurrencies.” The warning also reminded consumers that the FCA has no regulatory authority over cryptocurrencies.
California resident Michael Terpin has filed a lawsuit against telecommunications firm AT&T, alleging that the company’s negligence caused him to suffer cryptocurrency losses totaling about $24 million. He filed the complaint in a Los Angeles District Court on Wednesday, according to a report from CNBC that noted the full scope of damages sought by the plaintiff:
In a recent interview with Bloomberg at the Players Technology Summit in San Francisco, Coinbase CEO Brian Armstrong said that Bitcoin adoption and use is growing every year. However, he suggested that real mass adoption of Bitcoin as a payment solution is going to take time. Armstrong compared the industry’s growth with that of the internet nearly two decades ago: