Missouri AG Fights Trending Crypto Scams

Sadly, there are a lot of Missouri residents operating without a great deal of financial literacy or sophistication and they make easy marks for organized international crime.  

Accordingly . . .

Here's a glimpse at the struggle to protect consumers . . . 

Scammers here are using the CoinFlip machines the way that a bank robber—to keep with Hanaway’s getaway car analogy—uses a Ford Bronco. We don’t outlaw cars. But Hanaway argues that, unlike a car, it’s not entirely clear what crypto ATMs offer consumers. 

“We can’t figure out what good they’re doing,” she says. “A regular ATM is a service. If I need some cash, I can go to one and I can get some. If I go to this, I get a number. I can’t spend it. I can’t do anything with it. There’s no need for these. We think their whole enterprise is false advertising.”

Read more via www.TonysKansasCity.com link . . .

Bitcoin ATMs are in Missouri AG's crosshairs-but they insist they're not the problem